In May 2003, IFC established the Latin America and Caribbean Small and Medium Enterprise Facility (LAC SME Facility) as the tenth project development facility in IFC's global network of technical assistance programs for small and medium enterprise (SME) development. The facility's objective is to promote private sector development by supporting SMEs and to contribute to poverty reduction in the region.
To achieve this objective most effectively, the facility has identified four areas of focus on which to center its technical assistance program:
- Strengthening SME competitiveness
- Simplifying business regulations
- Broadening access to finance
- Fostering indigenous and social enterprises
Initially serving
Bolivia,
Peru,
Nicaragua, and
Honduras, the facility will be expanding its geographic scope throughout the region in FY05.
LAC SME Facility in Bolivia:
During the facility’s first year of operations, Bolivia has been host to several promising pilot initiatives such as municipal business simplification pilot in La Paz and the indigenous Enterprise Development project involving indigenous crafts producers from across the country. Building on these pilots, the facility is currently pursuing projects to extend these initiatives throughout the country and deepen its impact in these areas. The facility’s work program in Bolivia encompasses all four areas of focus, providing valuable experience and examples for the facility’s work in other countries.
LAC SME Facility in Peru:
The facility has completed a mapping study of the micro-finance sector in Peru, has worked with several indigenous enterprises in Lima and Arequipa, and is undertaking a project with an NGO dedicated to developing the business skills and production capacity of indigenous textile enterprises through technical assistance program. As these projects are extended and deepened in the coming year, the facility will expand its program to include municipal business simplification initiatives, and also will explore linkage opportunities with IFC investments in the region.
LAC SME Facility in Nicaragua:
The facility’s first year work program has included projects in strengthening SME competitiveness, broadening access to finance, and simplifying business regulations. Now, the facility is undertaking a project to strengthen SMEs in wood sector, partnering with World Wildlife Fund and INCAE. As part of the project, the facility has launched
an on-line portal for the sector. Building upon the pilot success in simplifying business regulations in Bolivia, the facility has begun exploring similar projects with local governments in Nicaragua’s largest municipalities.
LAC SME Facility in Honduras:
The facility’s primary focus has been strengthening SME competitiveness of the country’s wood sector, partnering with the World Wildlife Fund and INCAE. Other competitiveness improvement projects will focus on tourism, energy efficiency in the maquila sector, and linkages with IFC investments. The facility is also actively exploring projects in micro-finance and municipal business simplification, such as the project currently being developed in San Pedro Sula.
For further information, please contact:
Anita Bhatia
General Manager
Av. Alvarez Calderon 185, Piso 7
San Isidro, Lima
Perú
Tel: (511) 615-0660
Fax: (511) 421-7241
E-mail: ABhatia@ifc.org | Paul Melton
Communications Officer
Avenida Álvarez Calderón 185, Piso 7
San Isidro, Lima
Perú
Tel: (511) 615-0660
Fax: (511) 421-7241
E-mail: PMelton@ifc.org |
