The Multilateral Investment Fund today announced the approval of $3 million in grants to promote private sector projects to promote youth entrepreneurship, small business, and foreign investment.
The projects approved are as follows:
Bolivia - $651,600 grant to the Bolivian National Chamber of Commerce to raise standards for food safety and quality and promote quality management systems in small and medium-sized businesses.
Colombia - $900,000 grant to Corporación Invertir en Colombia for a program to put in place a mechanism to attract foreign investment that is sustainable over time.
Costa Rica - $660,000 grant to establish a one-stop-shop to enable informal microenterprises and small businesses to enter the formal sector of the economy.
Regional - $885,709 grant to Junior Achievement foundations in Chile, Ecuador, Paraguay and Peru to develop business skills, including the capacity to assume risk and make decisions, among low-income youth enrolled in secondary education.
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.