The Korea Technology Finance Corporation (KTFC) (Chairman Jong-Ho Kim, hereinafter referred to as KIBO) announced on the 24th that it signed a contract with the Inter-American Development Bank (hereinafter referred to as IDB) for a ‘Costa Rican-type technology assessment and technology guarantee technology support consulting’ and plans to spread technology financing know-how to Central and South America to support the innovative growth of local small and medium-sized enterprises.
Kibo will conduct consulting for the Costa Rica Development Bank (SBD), the Trade and Investment Promotion Agency (PROCOMER), the Innovation Research Promotion Agency (PROINNOVA), and the Technology Research Institute (TECH) until September 2026 in cooperation with local consultants from the IDB. Through this contract, Kibo will carry out the following projects: ▲preparing a report on benchmarking Korea’s innovation system ▲developing a Costa Rican-style technology assessment system and capacity building training ▲designing a Costa Rican-style technology guarantee system and preparing a work manual ▲holding policy dissemination seminars ▲preparing a joint policy report between Kibo and IDB.
Previously, Kibo successfully completed the 'Peru-type Technology Assessment System Improvement and Capacity Building Consulting' project in 2024. Accordingly, IDB decided to expand the application of the technology assessment system as a policy tool to support technological innovation of small and medium-sized enterprises in Central and South America, and selected Costa Rica as the second partner country among countries hoping to introduce technology financing.
In this contract, IDB expanded the project scale and requested Kibo to provide comprehensive consulting support that includes not only the development of a technology assessment model but also the design of a guarantee system. Kibo plans to transfer its technology assessment expertise and know-how to contribute to strengthening the capacity of local SME support organizations and upgrading the startup support system. Meanwhile, the Costa Rican government plans to use the National Development Fund (FONADE) funds to provide customized SME financial support based on the technology guarantee system it received.
Kim Jong-ho, CEO of Kibo, said, “Based on Kibo’s technology evaluation infrastructure and global network, we have created an opportunity to spread technology financing to the second Central and South American country after Peru.” He added, “Going forward, Kibo will strengthen cooperation with international financial organizations to elevate its status as a global leader in technology financing and continue to expand the overseas expansion of technology financing.”
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