OREANDA-NEWS. June 26, 2015. The Inter-American Development Bank (IDB) has approved a loan of US\\$20 million to finance a program for at least 1,245 researchers, professionals and educators in Paraguay to access scholarships abroad for doctorate and master's degrees. It will also provide grants for short-term studies and complementary support in some of the 500 top internationally ranked universities.

The Scholarship Program will contribute to the generation and application of knowledge in science and technology and other areas relevant to the country's development. It also will promote innovation and improve results in the field of education.

To achieve those goals, it will help to strengthen research through financial and logistical support for Paraguayan researchers to undertake post-graduate studies in universities abroad. At the same time, it will seek to strengthen innovation by supporting Paraguayans studying for masters' degrees abroad in the areas of science and technology, among others.

It also will seek to improve the quality of education through financial and logistical support for Paraguayan teachers to go abroad to study for master's degrees and train in the fields of education and management, in areas that include mathematics, sciences, communication and languages.

The IDB loan for \\$20 million will be for 25 years, with a grace period of 9.5 years and an interest rate based on LIBOR. There will also be a counterpart contribution of \\$53 million by the Fondo Fiduciario para la Excelencia de la Educaci?n e Investigaci?n in Paraguay.

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The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source oflong-term financing for economic, social and institutional development in Latin America and the Caribbean.The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.