The Multilateral Investment Fund today announced the approval of $5,576,000 in grants to promote private investment, strengthen regulatory and financial systems and assist small business and industry in four Latin American countries.
The beneficiaries of the grants are as follows:
Argentina - $1.86 million grant to Fundación para el Desarrollo Humano Sustentable de la Patagonia and Fundación Potenciar to promote entrepreneurial development projects in the municipality of Olavarria in Buenos Aires Province; in the municipality of Esquel and in the northwest microregion of Chubut Province; and in the San Justo-San Javier microregion in the northeast of Santa Fe Province.
Brazil - $2,075,000 grant to Serviço Brasileiro de Apoio às Micro e Pequenas Empresas to strengthen the competitive capacity of small enterprises that produce goods and services in selected industrial districts.
Mexico - $1 million grant to the Secretariat for Regional Development of the state of Veracruz to promote private sector participation in water and sanitation systems and to modernize the sector.
Paraguay - $641,000 grant to strengthen the Superintendency of Banks of the Central Bank as well as general oversight and legal and regulatory structure of the banking system and of nonbanking financial entities.
The Multilateral Investment Fund, an independent fund administered by the Inter-American Development Bank, is dedicated to promoting private sector development in Latin America and the Caribbean through grants and investments.