MENA Investment Initiative Release
Building on the past five years of enhanced support for entrepreneurship, today, the Vice President announced that the United States has committed to a bold new goal to expand economic opportunity for all, especially women and youth. Bringing together the U.S. Government’s most exceptional entrepreneurship programs, the United States will spark $1 billion in new private investments over the next three years for entrepreneurs worldwide, including social entrepreneurs. Half of these investments will be generated by women and young entrepreneurs. In addition, the United States is issuing a call to action to other organizations, companies, and countries to build on this goal. The Ewing Marion Kauffman Foundation already pledged its support to this effort, announcing today that the new Global Entrepreneurship Network (GEN) would generate additional investments for entrepreneurs. One of the first GEN operations will be in Morocco. Expanding Entrepreneurship in the Middle East and North Africa To support Morocco’s demand-driven professional training strategy, the Millennium Challenge Corporation (MCC) is expected to invest an estimated $50 million in public-private partnerships that provide students with the skills employers need. Starting in January, MCC and the Moroccan Government will solicit ideas from the private sector, government, and civil society to develop public-private training partnerships. Pending MCC Board approval and Congressional Notification, the program will be included as part of a new compact agreement that is expected to be signed in 2015. Through the Middle East and North Africa Investment Initiative, the U.S. government is launching new partnerships with the Shell Foundation in Iraq to provide financial and practical support to small and medium sized businesses run by entrepreneurs. In Lebanon, through a new partnership with Berytech, the U.S. government will provide early capital and advice for entrepreneurs, as well as mentoring, business networks, and other support as they grow and create even more jobs and economic activity. Source: https://goo.gl/DdyL1t
