AIDG is pleased to announce its first business plan competition in Guatemala, GuateVerde!!!

Up to US$50,000 in grants and early-stage financing for the winning proposal

On July 3rd AIDG launched the application for its first business plan competition in Guatemala, GuateVerde. This year’s contest focuses on access to water, energy or sanitation through the use of environmentally sound technologies or services. The team with the most promising business idea will receive up to US$50,000 in grants and early-stage business financing for implementation over two years. In addition to the financial benefits, the winning team will receive: assistance in business planning, technical training and support, preparation on the best practices of enterprise management, and access to local and international professionals for guidance and support.

Applications are being accepted until August 21, 2009. Thereafter six teams will be chosen to participate in five intensive business workshops where they will gain valuable tips in refining their business plans and preparing to pitch their business ideas to compete for the grand prize on October 24, 2009.

For more information about the competition or to apply, please visit the GuateVerde website at www.guateverde.com.

Key Contest Dates:

• August 21, 2009: Deadline for submission of all business plans (5PM EST).
• September 11, 2009: Six semi-finalists announced.
• September 14 - October 16, 2009 (Saturdays only): Semi-finalists compete in Quetzaltenango, Guatemala for the grand prize.
• October 24 – 25, 2009: Team presentations and judges review.
• December 14, 2009: Winner/winning team announced.

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Jonathan Katz (AP) via Washington Post

Three international organizations canceled $1.2 billion of Haiti’s debt Tuesday, freeing up millions of dollars each year for the deeply impoverished Caribbean nation that is beset by humanitarian crises.

The World Bank and the International Monetary Fund said their boards decided this week to forgive Haiti’s obligations to the two organizations, a move that triggered previously announced debt relief from the Inter-American Development Bank.

The actions erased nearly two-thirds of Haiti’s outstanding debt. As of April, Haiti owned more than $1.9 billion, according to the Washington-based Center for Economic and Policy Research.

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