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US Treasury recognizes IDB project using performing arts to train at-risk youth in Rio de Janeiro

Jul 23, 2014

Washington, DC, July 23, 2014.  An Inter-American Development Bank project that uses a performing arts program to train at-risk youth in Brazil was recognized for its development impact by the U.S. Treasury at an awards ceremony today.

The 2014 United States Treasury Department’s “Development Impact Honors” awards were presented by Treasury Secretary Jacob Lew. IDB Executive Vice President Julie T. Katzman received the award on behalf of the Bank.

Galpão Aplauso (“Applause Warehouse”), based in Rio de Janeiro, was founded in 1998 as an arts program for talented youth from the city’s slums, also known as favelas. In 2009, the IDB’s Multilateral Investment Fund (MIF) formed a partnership with Galpão to work on a vocational training program for Galpão’s participants, using performance activities such as dance and theater, to teach key life skills like cooperation, trustworthiness, and leadership. It adds intensive training in literacy, numeracy, and workplace skills to prepare youth for jobs in in-demand sectors like construction and the service industry.

“Building opportunities for young people is one of the IDB’s highest priorities,” said Katzman. “One in every five people in the region between 15 and 29 years of age, 32 million in all, neither attends school nor works.  Ensuring a bright future for the region means making sure young people, especially those from disadvantaged backgrounds, can succeed in the workplace. Galpão Aplauso shows how to do that by teaching both technical and life skills with creativity and enthusiasm.”

Galpão Aplauso has proven to have a significant impact on its graduates: over 500 young people have completed the vocational program, achieving job placement rates of 85 percent.  They also saw a 33 percent increase in the probability of being employed, and a 27 percent jump in earnings.

About the Inter-American Development Bank

The IDB is a multilateral financial institution supporting Latin America and the Caribbean’s efforts to reduce poverty and inequality, and to bring about development in a sustainable, climate-friendly way. Established in 1959, it is the leading source of development financing for Latin America and the Caribbean, with a strong commitment to achieving measurable results.

About the MIF

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, is funded by 39 donors and supports private sector-led development benefitting low-income populations and the poor –-their businesses, their farms, and their households. A core MIF mission is to act as a development laboratory in order to build and support successful micro and SME business models.

Learn more about Galpão Aplauso here

«June 2018»

En 2017 la inversión de Private Equity y Venture Capital superó cualquier máximo registrado: 5.000M€

Madrid, 29 de mayo 2018.- Miguel Zurita, recién nombrado presidente de la Asociación Española de Capital, Crecimiento e Inversión (ASCRI), ha presentado esta mañana los resultados de la actividad de Venture Capital & Private Equity en España en 2017 y en el primer trimestre 2018 durante la inauguración del Congreso Anual ASCRI. El evento, que ha contado con la colaboración de PwC, ICO, ICEX-Invest in Spain, Cofides y la Fundación Rafael del Pino, ha sido presentado por Irene Garrido, Secretaria de Estado de Economía y Apoyo a la Empresa. Han participado también Piel Luigi Gilibert, Chif Executive del European Investment Fund (FEI), fondos de venture capital internacionales como Atomico o Rakuten y casos de éxito como Volotea, Keraben o Grupo Eugin.
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ASCRI and BID-FOMIN sign a collaboration agreement with The Venture Capital & Private Equity Associations in France, Chile, Mexico, Argentina And Colombia

30 May 2018 . The Spanish Venture Capital & Private Equity Association (ASCRI), at its annual Conference held on 29 May, signed an agreement with BID-FOMIN and the Venture Capital & Private Equity Associations in France, Chile, Mexico, Argentina and Colombia. The objective of this alliance is to build bridges between both continents to promote bilateral investments, strengthen the business ecosystem and develop an information exchange platform.

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