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MIF and TechnoServe seek to maximize socioeconomic opportunities in communities with mining operations in Brazil, Chile, and Peru

Aug 18, 2016

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, recently approved a $1,980,000 technical cooperation grant for a project that will seek to increase the socioeconomic benefits of the communities where mining operations are housed. The project will be carried out by TechnoServe Inc. through its offices in Brazil, Chile, and Peru. Specifically, the project will seek to maximize access to the labor market and to goods and services through capacity-building among public and private local actors involved in extraction sites.

The reality in Latin America is that communities with extractive operations are not taking full advantage of the potential that such operations can offer. Direct opportunities are relatively limited in terms of employment, and the same is true in terms of generating business around the supply of goods or strategic services, which is very specialized. This situation leaves a segment of the population with unmet expectations of prosperity. This feeling of missed opportunity is compounded by the limitations that public entities may have in managing royalties and transfer payments in local communities. The limitations can be summarized as follows: incomplete information on market opportunities, weak coordination networks, and limited supply of public goods and services.

To address this problem, the project will build on the synergies generated by Anglo American’s mining investments in Brazil, Chile, and Peruand its alliance with TechnoServe to realize the potential for growth in host communities throughout the extraction cycle. In Brazil, the project will focus on strengthening public and private institutions to design and implement a business development plan to help reduce dependence on mining activities in the municipalities of Conceição do Mato Dentro, Serro, Dom Joaquim, and Alvorada de Minas in the state of Minas Gerais. In Chile, the intervention will focus on improving employment and self-employment skills for youth and women, and strengthening local labor market and self-employment actors such as labor intermediation offices and the Centro Emprendedor (Entrepreneur Center). In Peru, the project will seek to strengthen local entrepreneurs to supply certain items (such as construction, transportation, and wood) to the mining sector in the region of Moquegua, as well as to other sectors that benefit from the presence of mining (trade, hotels, and restaurants). All this will coordinate with and build upon existing programs in the area, such as Procompite or those carried out by PRODUCE within the area of Emprendedor Peruano.

About TechnoServe Inc


TechnoServe (TNS) is an international nonprofit organization that promotes business solutions to alleviate poverty by connecting entrepreneurs with information, partners, and markets. TNS provides assistance for the creation of competitive enterprises in emerging economies in Africa, Latin America, and India. Its working model for stimulating economic growth in order to reduce poverty has as its central axis the development of high-impact partnerships that create a market for the growth of inclusive value chains and capacity building in small and medium-sized enterprises and a network of financial and business development institutions needed to develop competitive and sustainable enterprises.

About Anglo American

Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world’s developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products – from diamonds (through De Beers) to platinum and other precious metals and copper – to our customers around the world.
 
As a responsible miner, we are the custodians of those precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate – creating sustainable value and making a real difference. www.angloamerican.com



About the MIF

The Multilateral Investment Fund is the innovation lab for the Inter-American Development Bank Group. It conducts high-risk experiments to test new models for engaging and inspiring the private sector to solve economic development problems in Latin America and the Caribbean. The MIF addresses poverty and vulnerability by focusing on emerging businesses and smallholder farmers with the capacity to grow and create economic opportunities. Learn more at www.fomin.org.

 

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