Innovation Program for Social Inclusion and Productivity (IADB-PN-L1117)

Countries
  • Panama
Where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 8, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
National Department of Science, Technology, and Innovation
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 45.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Feb 11, 2016


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Project Description
The program's general objective is to contribute to improved social inclusion and productivity by promoting investment in innovation and research. The specific objectives are to: (i) build the planning, execution, coordination, and evaluation capacity of the National Innovation System; (ii) build the innovation and research capacity of the productive sector in the priority areas of the Strategic Plan for Science, Technology, and Innovation; (iii) promote social innovation through greater involvement of excluded groups in the innovation process; and (iv) build innovation and research capacity in the social sector.
Investment Description
  • Inter-American Development Bank (IADB)
The program will have a total cost of US$45 million. Of that amount, US$30 million will be financed by the Bank with Ordinary Capital resources, and US$15 million will be the local counterpart contribution. The operation will be a specific investment loan with a disbursement period of five years.
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).