Kibo Collaborates with Inter-American Development Bank to Promote Technology Assessment in Costa Rica

Spreading Korea's Technology Finance Expertise to Latin America
Kibo signs consulting agreement with IDB to support Costa Rica's innovation system and SME growth

The Korea Technology Finance Corporation (Kibo) announced on the 24th that it has signed a contract with the Inter-American Development Bank (IDB) for "Technical Support Consulting for Costa Rica-type Technology Evaluation and Technology Guarantee," and plans to spread its technology finance expertise in the Latin American region to support the innovative growth of local SMEs.

Kibo will collaborate with IDB local consultants to provide consulting services until September 2026 targeting institutions such as the Costa Rican Development Bank (SBD), the Foreign Trade Promotion Agency (PROCOMER), the Innovation Research Promotion Agency (PROINNOVA), and the Technology Institute (TECH). Through this contract, Kibo will undertake projects including ▲preparing benchmarking reports on Korea’s innovation system ▲developing a Costa Rica-type technology evaluation system and conducting capacity-building training ▲designing a Costa Rica-type technology guarantee system and drafting operational manuals ▲holding policy dissemination seminars ▲and preparing joint policy reports with IDB.

Previously, Kibo completed the “Peru-type Technology Evaluation System Improvement and Capacity Building Consulting” project in 2024. Following this, IDB decided to expand the application of the technology evaluation system as a policy tool to support technological innovation for Latin American SMEs and selected Costa Rica as the second partner country among those wishing to introduce technology finance.

In this contract, IDB requested Kibo to expand the project scope to provide comprehensive consulting support covering not only the development of the technology evaluation model but also the design of the guarantee system. Through this, Kibo plans to transfer its expertise and know-how in technology evaluation to strengthen the capabilities of local SME support institutions and advance the startup support system. The Costa Rican government plans to utilize funds from the National Development Fund (FONADE) to provide customized financial support for SMEs based on the transferred technology guarantee system.

Kim Jong-ho, Chairman of Kibo, stated, “Based on Kibo’s technology evaluation infrastructure and global network, we have created an opportunity to spread technology finance to the second Latin American country following Peru,” and added, “Going forward, Kibo will continue to strengthen cooperation with international financial organizations to enhance its status as a global leader in technology finance and continuously expand the overseas advancement of technology finance.”