IDB sup­ports in­vest­ment for Uruguay

The Pak Banker - - COMPANIES/BOSS -

The In­ter-Amer­i­can Devel­op­ment Bank (IDB) has ap­proved a $550 mil­lion op­er­a­tion for Uruguay to fund the Pro­gram for Strate­gic In­ter­na­tional Po­si­tion­ing, which aims to sub­stan­tially in­crease in­vest­ment and ex­ports by strength­en­ing the reg­u­la­tory and in­sti­tu­tional frame­work, pro­mot­ing and fa­cil­i­tat­ing trade, and boost­ing en­tre­pre­neur­ial in­no­va­tion. "This op­er­a­tion is part of a com­pre­hen­sive and long-term ef­fort that the Bank has been car­ry­ing out in the coun­try in the field of in­vest­ment pro­mo­tion and trade fa­cil­i­ta­tion, which in­cludes both tech­ni­cal and fi­nan­cial sup­port," said Pablo Gar­cía, IDB project team leader.

One pro­gram com­po­nent will sup­port Uruguay's ef­forts to con­sol­i­date a set of sweep­ing re­forms de­signed to strengthen the over­all pol­icy frame­work for at­tract­ing in­vest­ments.

Other ac­tiv­i­ties in­clude the sign­ing of bi­lat­eral in­vest­ment and trade treaties to pre­vent dou­ble tax­a­tion. This will im­prove trans­parency in the tax­a­tion of in­vest­ment in line with global stan­dards of fis­cal trans­parency.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.