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MIF approves $7.1 million to support business competitiveness in Latin America and Caribbean

The Multilateral Investment Fund today announced the approval six grants totaling $7.1 million to improve business competitiveness in Latin America.

Among the projects is a $700,000 grant to Panama’s Autoridad de Tránsito y Transporte Terrestre to assist in designing and implementing a new concession process that will improve bus service and increase private sector investment in the urban bus transportation sector.

Panama’s Autoridad de Micro, Pequeñas, y Medianas Empresas will also receive a grant of $582,000 for a project to improve the overall business climate for small and medium-sized enterprises.

The other grants approved by the MIF are as follows:

Brazil: $1,122,000 to Financiadora de Estudos e Projetos to stimulate the development of new, technology-based companies.

Regional: $2,289,000 to Fundación CANE in Argentina and Servicio de Consultorías para America Latina in Chile to promote the development of a services market to implement the quality, environmental, and food safety management systems as tools for continuous improvement.

Regional: $1,670,640 grant to the Instituto Brasileiro da Qualidade e Produtividad to build capacity in accreditation, laboratories, certification and inspection and thereby enhance the international competitiveness of business in Costa Rica, Panama, Paraguay, Trinidad and Tobago and Venezuela.

Regional: $760,000 grant to Instituto Tecnológico y de Estudios Superiores de Monterrey for a program to benefit small and medium-sized businesses in Colombia, Mexico and Venezuela by improving their capacity to access financial markets and increasing their supply of skilled management.

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