• • The meeting organized by the Ministry of Economy and the IDB focused on sharing international experiences and the role of public banking in development financing.

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  September 30, 2022- The Latin American Association of Financial Institutions for Development (ALIDE) participated in the “International Seminar on Development Financing and the Role of Public Banking” that sought to discuss financial instruments that may allow Chile to conduct a sustainable structural change of its productive matrix.

  The event organized by the Ministry of Economy, Development and Tourism of Chile and the Inter-American Development Bank (IDB) also allowed to learn about relevant experiences in the role of development financing in confronting the climate crisis, developing technologies and promoting innovation.

  The General Secretary of ALIDE, Edgardo Alvarez, participated as moderator of the panel «The role of development banks in supporting and financing innovation», and, during his presentation, he underscored the work of the Government of Chile in creating a new financing system that promotes structural and sustainable changes in the productive matrix.

  Along with the representative from ALIDE, Gustavo Crespi, specialist in Competition, Technology and Innovation at the IDB, and Anabel Marin, Research Fellow and Leader of the Business, Markets and the State Cluster at the Institute of Development Studies, Sussex University also made presentations.

Investment in Innovation

During his presentation, Gustavo Crespi referred to the financing of innovation and pointed out the importance of investing in intangible assets (research and development, training, software, branding) in order to increase productivity and promote sustainable development in the countries of Latin America.

In addition, he shared the article “Heterogeneous effects of financial constraints on innovation: Evidence from Chile” (2015) where, together with Roberto Alvarez, he concluded that there is a serious financing problem in Chile due to the financial restrictions applied mainly to intangible investments focused on innovation.

For her part, Anabel Marin referred to the capabilities and activities that ought to be financed and how innovation is financed. She added that it is very important to negotiate and legitimize the financing of innovation, because society has another perspective and a demand for needs that is different from those proposed in the seminar.

About ALIDE

ALIDE is the community of financial institutions that generates banking solutions for the development of Latin America and the Caribbean. Founded in 1968, its main objective is to contribute to the economic and social development of the region, through the good practices in development financing that it promotes among its associates, about 90 institutions with a presence in more than 20 Latin American countries and other regions of the world.

Contact

Communications Unit of ALIDE
Phone: +511-203-5520 |: Ext: 227
comunicaciones@alide.org, comunicaciones2@alide.org
www.alide.org