Researchers from leading institutions in both countries will take part in the research projects, the ministry's spokeswoman Hila Aloni Ohayon told Xinhua.
This is the first cooperation between Israel and a Latin American country to jointly fund scientific research, the ministry noted.
Research topics range from the early detection of retinal aging, encapsulation of an antifungal lung medicine, and non-invasive cancer diagnostics, to fast charging of lithium-based battery cells, and the development of ion exchange membranes for hydrogen technologies.
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