The William J. Clinton Foundation and the Clinton Giustra Sustainable Growth Initiative in partnership with the Carlos Slim Foundation have announced the launch of a $20 million investment fund to support small business growth in Colombia.
Part of a broad commitment by CGSGI and the Mexican billionaire to tackle key health, education, and economic challenges in Latin America, the new fund will work to address the barriers that Colombian small businesses often face in securing financing, with a focus on enterprises committed to job creation in the country. To that end, the fund will engage in market-based analyses; provide enterprises with capacity-building assistance to enhance their compliance with financial reporting, management accounting, and corporate governance standards; and support training in social and environmental responsibility.
"Today in Latin America, so many entrepreneurs lack the access to financing that could help them connect their talents and ambitions with their businesses and incomes," said former President Bill Clinton. "I'm hopeful this new approach will address that challenge, and in the process, will help create many new jobs for people in Colombia and the region."