About a month ago, it was announced that the United States Agency for International Development was teaming up with Western Union and a host of other partners to provide funding in the range of $50-100k and technical assistance to members of the African diaspora based in the U.S., desiring to build businesses in their home country. Among other criteria, loan recipients must also have a local partner residing in the country they intend on doing business.
The idea behind USAID granting loans to the African diaspora is to utilize the knowledge of local conditions that those in the African diaspora have as well as tap into the immense human capital that exists in African immigrants who want to invest back into their home countries.
I believe this is part of a larger effort of a transformation to open up aid efforts to those who have the potential to change their own circumstances if given the opportunity. Depending on how much red tape is involved, I’m hoping this is a worthy and successful effort by USAID. Time will tell.
USAID has set up a website called the African Diaspora Marketplace with full details: http://www.diasporamarketplace.org/
by workineh bedeche
30 Jul 2009 at 18:11
this program will help a lot of ethiopian investers.
by workineh bedeche
30 Jul 2009 at 18:12
This program will help a lot diaspora.