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Peru & Ecuador business development thru IDB fund
30
Jan '08
The Multilateral Investment Fund of the Inter-American Development Bank announced approval of financing for two on-reimbursible technical cooperation projects in Peru and Ecuador, totaling US$1.6 million and US$1.5 million, respectively.

Both projects will target inclusive business development at the base of the economic pyramid in order to boost income and employment levels for the low-income population. The two projects will incorporate low-income entrepreneurs into the value chain of private-sector enterprises.

More than 5,250 micro and small enterprises in Peru will receive technical assistance and training enabling them to participate in the value chains of seven anchor businesses committed to the project. Beneficiaries in Ecuador will include more than 4,850 micro and small enterprises that will be incorporated into the value chains of seven other anchor businesses.

The executing agencies for the projects will be the Peru and Ecuador offices of SNV Netherlands Development Organisation. Country counterpart financing will total about a million dollars for each country.

"Inclusive business development is an area that seems very promising to us as a mechanism for creating new economic opportunities by incorporating people with low incomes into the value chains of big businesses in a sustainable way," said IDB team leader Daniel Shepherd.

"In addition, these initiatives facilitate strategic private-sector participation in solving problems connected to poverty, while also promoting market access for the population at the bottom of the economic pyramid."

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