USAID Announces Haiti Diaspora Investment Challenge

Market Watch

NEW YORK, Sept 24, 2008 /PRNewswire-USNewswire via COMTEX/ -- U.S. Agency for International Development (USAID) Administrator and Director of U.S. Foreign Assistance Henrietta Fore has announced an initial $2 million for a Haitian Diaspora Investment Challenge Facility, which will fund plans for sustainable business activities in Haiti. The announcement was made Wednesday during a meeting with members of the Haitian community.
Administrator Fore reinforced the U.S. Government's strong support for the people of Haiti and for those who are helping to rebuild businesses and create opportunities in communities throughout Haiti following this year's hurricanes and tropical storms.
"USAID is proud to be a part of this initiative aimed at supporting sustainable development in Haiti," said Fore. "The facility is intended to launch more partnerships between USAID and the Haitian diaspora in the United States."
The Facility is scheduled to be rolled out in early 2009 and will provide individual, competitive grants up to $100,000. Applicants will be required to invest an amount equal to at least twice as much as the amount of any approved grant. The facility will provide business development and technical assistance to grantees, and through partnerships with local Haitian banks, the facility will be able to provide grantees improved access to credit.
Other international donors, as well as private sector foundations and businesses, will be invited to contribute to the Facility.
For more information about USAID and its programs in Haiti, visit http://www.usaid.gov/.
The American people, through the U.S. Agency for International Development, have provided economic and humanitarian assistance worldwide for nearly 50 years.
CONTACT: Public Information: 202-712-4810
SOURCE U.S. Agency for International Development
http://www.usaid.gov

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