The Inter-American Development Bank (IDB)’s Multilateral Investment Fund (MIF) announced the approval of $2 million in donations to finance seven pilot projects in information and communication technology (ICT). These projects will in turn benefit small and medium sized enterprises in Latin America and the Caribbean.
The projects were chosen through a request for proposals issued by MIF in its Program for Innovation in Information and Communications Technology for Electronic Business and the Development of SME (ICT4BUS- II). From over 400 proposals submitted by entities from 21 countries in the region, the following were chosen:
· ICT to strengthen SME associated with the National Dairy Consortium submitted by the Inter-cooperative Foundation of Ecuador.
These projects will benefit more than 8,000 micro, small and medium enterprises. The projects will also offer models based on information and communication technology that promote information management collaboration in order to become more profitable and help access new international and national markets.
MIF, an autonomous fund in the IDB, promotes economic growth that is equitable across the private sector in Latin America and the Caribbean, with special emphasis on micro, small and medium sized enterprises.