The U.S. Agency for International Development (USAID) has announced an extension of its Leveraging Effective Application of Direct Investments (LEAD) program implemented by the Pan American Development Foundation (PADF) in order to continue creating jobs and promoting economic growth in Haiti.

New funding of up to 5 million will be used to stimulate private investment in Haiti's small- and medium-sized enterprises (SMEs) and increase the development impact of remittances via ongoing engagement with the Haitian Diaspora through early 2017.

To date, the LEAD project has funded 31 enterprises and leveraged over $10 million USD in private capital. The program has provided training and technical assistance to more than 100 enterprises, and created to date 9,000 direct and indirect jobs across the Port-au-Prince, St. Marc, and Cap-Haitian corridors.

Among other activities, new funds will be used to re-open the popular Business Plan Competition (BPC), a matching grant program for Haiti's most promising SMEs. Enterprises will be judged on various criteria including the feasibility of their project, number of jobs created, innovation, and impact on the local economy. Winners of the BPC will receive between USD $50,000 and $200,000 and must raise an equivalent amount in private capital investment for a 1:1 match.

This next competition will have a special focus on women entrepreneurs and job creation in the St. Marc and Cap-Haitien regions. The goal is to provide capital to an additional 15 to 20 qualified enterprises. In addition, high-performing previous winners may be eligible for second-round funding, if they exceed job creation and other performance metrics.

Registration deadline August 7, 2015, via an application form that will be available on LEAD's website www.leadinvestmentshaiti.info

"Extending the LEAD project contributes significantly to the U.S. government's long-term commitment to job creation and economic security in Haiti," said Pamela A. White, U.S. Ambassador to Haiti, adding "LEAD has a proven record of supporting Haiti's best and brightest entrepreneurs through matching funds and technical assistance."

For more details on the application process for the new Business Plan Competition visit : www.leadinvestmentshaiti.info

About the LEAD Program :

Leveraging Effective Application of Direct Investments is a USAID activity designed to attract investments in Haitian small- and medium-sized enterprises and to increase the development impact of remittances. LEAD operates in the three USAID target development corridors: Cap-Haïtien, Saint-Marc, and Port-au-Prince.

HL/ HaitiLibre