IDB and MIF Sign Investment Agreements with Uruguay and Bolivia

By Dialogo
October 08, 2010

On 6 October in Montevideo, the Inter-American Development Bank (IDB) and the Multilateral Investment Fund (MIF) signed several agreements intended to increase private-sector investment and competitiveness in Uruguay and Bolivia, respectively.

The president of the IDB, Luis Alberto Moreno, and the Uruguayan economic and finance minister, Fernando Lorenzo, signed a non-reimbursable technical-cooperation agreement worth up to 1.2 million dollars to develop public-private partnerships.

The project’s objective is to create incentives to increase private investment in public infrastructure and strengthen the management of the tourism industry.

For her part, IDB executive vice-president and MIF general manager Julie Katzman announced the signing of agreements to widen access to financial and non-financial services for small producers in the agricultural and livestock sectors in Bolivia, which will benefit twenty thousand low-income micro- and small-business owners.

The agreements were signed in the context of the Thirteenth Inter-American Microenterprise Forum (Foromic), underway in Montevideo with the participation of representatives from forty-three countries.

The conference, the opening ceremony of which was attended by Uruguayan President José Mujica, also awarded the 2010 ‘Prize for Microenterprise Development’ to two microfinance institutions from the Dominican Republic and Bolivia and a renewable-energy firm from Nicaragua.

Tecnosolución SA received the award for excellence in business development services for bringing electricity to remote areas of Nicaragua by means of solar energy.

For their part, Banco de Ahorro y Crédito ADOPEM, a Dominican bank, was selected for its offer of innovative products for segments of the population underserved by the formal financial sector, while Banco FIE S.A., a Bolivian bank, stood out for its best practices in the area of social performance.




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