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Hispanics in Philanthropy (HIP) has partnered with the Multilateral Investment Fund (MIF) of the Inter-American Development Bank to create economic opportunities in diverse Latin American communities that have been affected by high levels of migration. Under the program, local partners in Argentina, Dominican Republic, El Salvador, Guatemala, Mexico and Nicaragua will pool their resources to establish a matching fund that will support local productive projects.
The program will leverage the combined forces of growing philanthropic networks in these six Latin American countries and the interest of diaspora groups to invest in their home communities.
Program Objectives
The purpose of the program is to develop transnational linkages and to foster philanthropy in Latin America while supporting projects with a diaspora contribution that promote employment opportunities and income generation. To achieve its purpose, the program has three interrelated components:
- Promotion and awareness-raising for productive development support
- Productive community initiatives
- Monitoring, evaluation and dissemination of the results
Expected Outcomes
At the conclusion of this 5-year program we expect the following results:
- Increase in the economic development in the participating communities
- 33 projects supported in Argentina, Dominican Republic, El Salvador, Guatemala, Mexico and Nicaragua
- Capacity-building workshops offered on a semiannual basis to funded projects in each country
- $2.3 million raised from foundations, individuals and diaspora organizations to support communities in the region