NEWS WIRE: Australia: Government Donates $2m to Inter-American Development Bank for Peruvian Microenterprise Training Effort

Source: The Gov Monitor.

Original article available online.

MIAMI, September 26 – Australia will empower tens of thousands of Peruvian women and their families through a microfinance project as part of a new partnership with the Inter-American Development Bank.

Australia’s contribution of $2 million will support 100,000 women entrepreneurs through training, networking and mentoring, arming them with the management skills and confidence required to develop more sustainable and profitable businesses.

‘In Peru, large segments of the population live in poverty and rely on small businesses for their livelihood. Empowering women through business training will have a direct and positive impact on families and communities,’ Mr McMullan said.

The partnership draws on the expertise of the Inter-American Development Bank and the knowledge of local microfinance, education and training institutions.

This builds on Australia’s commitment to the Millennium Development Goals and to strengthening and deepening our relationship with Latin America and the Caribbean. It is an important new step for Australia to provide targeted assistance where it is needed and to build institutional and people to people links with Latin America.

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