The Multilateral Investment Fund (MIF) - Inter-American Development Bank

Donor: 
Any donor
International Finance Institutions
Geographical focus: 
Global
Americas
Thematic focus: 
Tourism in general
Employment, decent work and capacity building in Tourism
Tourism and Culture
Trade, Investment and Competitiveness in Tourism
Social inclusion and Poverty reduction in Tourism
Intro text: 
The Multilateral Investment Fund (MIF) was created in 1993 by 21 donor countries and is part of the Inter-American Development Bank Group. It is the leading provider of technical assistance for the private sector in Latin America and the Caribbean. Projects to be financed should increase access to finance, markets and capabilities and basic services.

Official website

http://www.fomin.org/

Geographic focus

Latin America and the Caribbean.

Who can apply?

  • Business associations;
  • Non-governmental organizations;
  • Foundations;
  • Public sector agencies and financial institutions; and
  • In some cases, private sector firms to support projects that benefit the poor: their businesses, their farms, and their households.

Throughout the 26 Latin American and Caribbean borrowing member countries of the IDB Group.

Objectives and activities

Objective: The Multilateral Investment Fund is a laboratory for experimenting, pioneering, and taking risks to empower dynamic entrepreneurs and poor and vulnerable populations - their businesses, their farms, and their households.

Activities:

  • Social Entrepreneurship Program, which focuses on pilot initiatives with a business approach to increase financing and market access to marginalized rural communities and improve access to basic services.
  • Small Enterprise Development Facility: MIF aims to expand access to financial services for small businesses.

Tourism-related activities eligible for funding:

  • Sustainable tourism development: tourism destination and product management.
  • For example: the Colombia Coffee Trail. The objective of the project is to develop the Coffee Trail in an aim to increase productivity and competitiveness of MSMEs of tourist services in the Quindio region.

Type and level of funding

It provides grants, loans, guarantees, equity and quasi-equity. Most of the MIF financing takes the form of grants, which can reach up to $2 million per project. The MIF also offers long-term loans of up to $1 million and equity investments that can reach up to $5 million.

The MIF finances about 100 projects per year, with a total finance volume of about US$100 million.

To apply for funding, please register online and fill out an Online Application.