News Releases

Mar 30, 2006

Microsoft agrees to be IDB’s first strategic partner in Youth Fund for Innovation and Social Action in Latin America and the Caribbean

BELO HORIZONTE, Brazil - Microsoft agreed to become the first strategic partner of the Youth Fund for Innovation and Social Action announced today by IDB President Luis Alberto Moreno during a youth seminar at the IDB’s 2006 Annual Meeting of the Board of Governors in Belo Horizonte.

Moreno said the IDB is working on a Youth Fund that would provide non-reimbursable direct financing to support youth businesses, social enterprises and technology projects.

“This would allow us to support in a more effective way youth initiatives as those presented here today and to share experiences of youth participation,” said Moreno.

The youth seminar Promoting Youth Development and Participation in Latin America and the Caribbean was held this morning at the Expominas Convention Center in Belo Horizonte. The event was organized by IDB YOUTH in coordination with the National Youth Secretariat, the Government of Minas Gerais and the Office of the Mayor of Belo Horizonte and included the participation of Minas Gerais Governor Aecio Neves da Cunha, Belo Horizonte Mayor Fernando Pimentel, Beto Cury, the National Secretary of Youth, and representatives from Microsoft.

“This partnership is very important because it is an opportunity to scale up and increase the impact of young people’s work,” said Rodolfo Fucher, Microsoft’s director of social investments for Latin America. “If we all focus and work in partnership, we can have a stronger impact and support more young people in a more effective way.”

The Bank promotes youth development in the context of its overall work to support social and economic development. Over the past 25 years, the Bank has approved more than US $5 billion in loans for projects designed to meet young people’s needs, especially in the areas of education, health and employment.

In Brazil, the Bank has approved projects in the areas of youth participation, employment, health, education, entrepreneurship, technology and volunteerism, among other areas.

This year’s seminar included three panels: one presented the issues affecting youth from a Brazilian policy perspective; another showcased examples of youth leadership in employment generation, social entrepreneurship, and volunteerism; and a third panel highlighted successful youth international development programs.

President Moreno also highlighted that the Bank will be launching awareness-building campaigns with MTV Latin America to promote the participation of young people in democratic, social and economic development processes and to offer a platform for young people to express their opinions and offer solutions on key issues affecting them.

Moreno also mentioned A Vencer, a youth program co-financed by the Multilateral Investment Fund (MIF). This program uses sports as an essential tool for youth development.

The MIF has played a key role generating new initiatives that support economic options for young people, co-financing approximately 20 projects worth US$ 44 millions in areas such as youth entrepreneurship, corporate social responsibility, and job training and placement.

Also available in: Português, Español