Skip to main content

MIF approves $15.3 million to support small business, environmental protecction, and regulatory reform in Latin America and the Caribbean

The Multilateral Investment Fund today announced the approval of $15.3 million in credit and grants to support small business and microenterprise, environmental protection, and regulatory reform in Latin America and the Caribbean.

Among the programs approved by the MIF Donors Committee is a contingency credit line of $9.4 million and $600,000 in technical assistance to contribute to the recovery of microfinance institutions that suffer losses due to natural disasters.

The resources will also assist the microfinance institutions in maintaining operational and financial self-sustainability when confronted by the emergencies.

The credit line is a follow-up to the $12.7 million in financing that the MIF approved in December of 1998 to assist the recovery and operational sustainability of microenterprises in Central America that were affected by Hurricane Mitch.

In another operation that is the first of its kind, the MIF also approved a $1.1 million grant to help modernize the telecommunications and information services sector in Guyana.

The project includes development of a modernization strategy, reform of the legal and regulatory framework, introduction of greater competition, training, auditing and strengthening of the regulatory agency.

Other programs approved by the MIF are as follows:

  • Bolivia - $1.2 million grant to enhance the management capacity and competitiveness of small rural producers.
  • Colombia - $850,000 grant to Fundación Mario Santo Domingo to strengthen the competitiveness of microenterprises on the Atlantic coast.
  • El Salvador - $749,000 grant to the Asociación Salvadoreña de Industriales to promote cleaner production processes.
  • Mercosur - $1.4 million grant to train energy regulators in Argentina and Brazil.

The Multilateral Investment Fund, an autonomous fund administered by the Inter-American Development Bank, provides grants and investments to accelerate private sector development and help improve the climate for investment in Latin America and the Caribbean.

Jump back to top