Uruguay XXI to Implement $20 Million IDB Program to Advance Internationalization

Uruguay has taken another step toward strengthening its internationalization policies with the signing of a $20 million loan agreement for a program to be implemented by Uruguay XXI. Funding from the Inter-American Development Bank (IDB) will expand export and investment promotion tools, streamline the procedures associated with these activities, and improve coordination among business support services.

The agreement was signed by the IDB, the Ministry of Economy and Finance (MEF), and Uruguay Innova during the event Uruguay as a Regional Innovation Platform: Results, Challenges, and Opportunities, held on August 3 at the Executive Tower in Montevideo as part of IDB Group President Ilan Goldfajn’s visit to the country.

The program aims to increase business productivity by helping companies expand into international markets. Its objectives include streamlining and broadening access to the procedures required to export and invest, improving the effectiveness of export and investment promotion tools, and strengthening their coordination with other private-sector support services.

The event opened with remarks from Secretary of the Presidency Alejandro Sánchez and Goldfajn. Sánchez placed the agreement at the center of the government’s agenda to drive innovation and productivity, in line with the National Strategy for Development and the National Strategic Plan for Science, Technology, and Innovation.

Goldfajn said Uruguay has an opportunity to accelerate its growth through two key drivers: innovation and internationalization. “Uruguay is exceptionally well positioned to become a regional platform for growth and innovation,” he said.

Internationalization as a Path to Scale

Bruno Gili, executive coordinator of Uruguay Innova, moderated the main panel. Participants included Álvaro Brunini, president of the National Agency for Research and Innovation (ANII); Mariana Ferreira, executive director of Uruguay XXI; Andrés Albín of molecular diagnostics and biotechnology company ATGen; and Ana Inés Echavarren of financial technology company Infocorp.

Ferreira discussed the challenges innovative companies face in reaching new customers, connecting with global networks, and turning their technological capabilities into globally scalable businesses.

She identified market access, financing, specialized talent, and a competitive regulatory environment as key conditions for positioning Uruguayan ventures for international growth from the outset.

Ferreira noted that the new program will help expand initiatives already underway, including Uruguay al Mundo, efforts to attract skilled talent, and the development of the Single Window for Investment (VUI, its Spanish acronym). She also emphasized the importance of attracting companies that can bring knowledge, technology, and new connections to the local ecosystem. “We need to attract innovative foreign companies and actively target them through a much more focused strategy,” she said.

She also underscored the importance of coordinating public support tools to assist companies with different characteristics and at different stages of development. In this context, Uruguay XXI plays a central role in showcasing the capabilities of Uruguay’s innovation ecosystem internationally, while also identifying best practices, investors, and opportunities for the country.

An Integrated Agenda for Innovation and Growth

Minister of Economy and Finance Gabriel Oddone closed the event by noting that Uruguay’s economic stability makes it possible to pursue long-term policies. He called for greater investment in human capital and better conditions for connecting the private sector with the innovation system.

The new operation complements the IDB Group’s support for innovation, digital transformation, talent development, and investment promotion in Uruguay. Its implementation will connect these capabilities more effectively with international markets and help companies move from knowledge creation to commercial growth.