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MIF and TechnoServe to create a sustainable model for small and growing women-led businesses in Central America

Aug 11, 2014

The Multilateral Investment Fund (MIF), member of the Inter-American Development Bank (IDB) Group, has recently approved a technical cooperation grant of US$1,986,098 for a regional project to be executed by TechnoServe in El Salvador, Nicaragua, Honduras and Guatemala. The project will seek to enhance the performance of 630 small and growing businesses and promote their sustained participation in value chains, with an emphasis on 455 small and growing women-led businesses. In order to achieve this, the project will link to corporate partners or anchor firms that will serve as pillars for small and growing businesses.

Although anchor companies in Central America are interested in buying more from small businesses, their main problems in doing so are related to the volume, timelines, and quality of the products or services they offer. Moreover, small and growing women-led businesses in Central America face still greater challenges in growing and maintaining their activities due to various obstacles to accessing financial products and services, value chains, and training to improve their business performance. 

To address this problem, the proposed project will improve and strengthen the Promote your Business (Impulsa tu Empresa) methodology, which is part of an ongoing program financed by the Argidius Foundation. Specifically, the MIF’s contribution will make it possible to train and advise businesses in improving their management and developing products and services, which will allow them to access higher value markets under better conditions. Likewise, it will seek to facilitate access to finance for small and growing women-led business, establishing partnerships with local financial institutions willing to offer financial products tailored to the needs of women entrepreneurs.


The initiative will promote gender equality throughout the entire value chain, providing services, tools, and training on gender equality to both anchor companies and small and growing business in their chain.

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 benefiting low-income populations and the poor—their businesses, their farms, and their households. The aim is to give them tools to boost their incomes: access to markets and the skills to compete in those markets, access to finance, and access to basic services, including green technology. A core MIF mission is to act as a development laboratory—experimenting, pioneering, and taking risks to build and support successful micro, small, and medium business models. More information can be found at www.fomin.org


About TechnoServe

TechnoServe is an international nonprofit organization that promotes business solutions for alleviating poverty by linking entrepreneurs to information, partners and markets. Technoserve provides assistance in creating competitive business in emerging economies in Africa, Latin America and India. With over four decades of measurable results, its programs are designed to build capacities of individuals and companies, strengthen market systems, and facilitate the scalability of emerging industries.
 

 
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