Mitsubishi Corporation has teamed up with the Inter-American Development Bank (IDB) to support the social and economic development of youth entrepreneurs in rural areas in Latin America and the Caribbean.
Mitsubishi Corporation will support an existing project funded by the IDB’s Multilateral Investment Fund (MIF) and Odebrecht Foundation. The project has been helping small-scale producers located in environmental protected areas develop new market channels for their products.
Mitsubishi Corporation will provide a $150,000 grant for one year and it intends to continue mobilizing similar resources for three years, subject to annual review and approval by both institutions.
The grant further enhances the partnership between the IDB and Mitsubishi Corporation. The two institutions agreed last year to foster cooperation in the area of Corporate Social Responsibility. Under the accord, both institutions will help promote environmentally integrated and sustainable production by supporting training activities for youth.
Youth are active stakeholders in each of the productive sectors being supported by the IDB project. Their involvement is essential to bring new technologies to small-scale farmers and to become leaders in their communities.
The IDB, through its Office of Outreach and Partnerships (ORP) has facilitated the accomplishment of this partnership that will mobilize additional resources to support the Bank group’s activities in its member countries.
The MIF, an autonomous fund administered by the IDB, provides grants, investments and loans to promote private sector growth, labor force training and small enterprise modernization in Latin America and the Caribbean.
Office of Outreach and Partnerships