The Multilateral Investment Fund today announced the approval of two grants to support a new structure to finance public services in the state of Minas Gerais, Brazil, and to develop production methods for small and medium-sized businesses in Uruguay that are efficient and environmentally friendly.
Public-private partnership in Minas Gerais
A grant of $675,000 will be administered by the Secretariat of Economic Development of Minas Gerais to adopt a new structure of financing for private-public partnerships to increase the availability and quality of public services and infrastructure.
The program will assist Minas Gerais in institutionalizing a permanent system of private-public partnerships with the creation of a new model of contracting that will foster private sector participation in the provision of public services and infrastructure.
The innovative initiative is designed to generate credibility in an effective private-public sector relationship. The program will serve as a reference point for similar initiatives in other states and the federal government.
SMEs in Uruguay
A $530,000 grant will support the Asociación Instituto de Estudios Empresariales of Montevideo to promote competitiveness of small and medium-sized businesses (SMEs) and to reduce the environmental impact of production activities.
The project will benefit 70 small and medium-sized businesses through the adoption of strategies for cleaner production. Training will be provided to 400 entrepreneurs and 20 local consultants to build awareness of the new production processes and to promote technological innovation. The results of the projects will be disseminated.
The MIF has organized its activities in groups of projects called “clusters.” This project is the 12th in the area of promoting eco-efficiency through cleaner production systems and environmental management.
The Multilateral Investment Fund, a member of the IDB Group, provides grants and investments to promote private sector development in Latin America and the Caribbean.