Partnering for Better Basic Services across Latin America: Boosting Business Models
Inter-American Development Bank (IDB)
Many private companies in Latin America and the Caribbean have innovative ideas of ways to do business providing basic services such as health care, education, energy, and water to people at the base of the socio-economic pyramid. Yet these pioneering businesses need expert know how and funds to test their ideas in the marketplace so they can be ready to absorb the financing needed for their transformation to commercial viability. The Inter-American Development Bank's Opportunities for the Majority Initiative (OMJ) and the Multilateral Investment Fund (MIF) launched in 2012 the Program to Accelerate Business Providing Services to Poor and Low-income Communities bringing critical technical expertise to a vital new partnership that fills an important gap in the market and connects businesses with new consumers while improving the lives of low-income populations. OMJ and MIF are mobilizing this novel instrument that melds their experiences developing business models and distribution platforms with grants to speed up the development of basic services business models so they are ready to absorb credit from OMJ and attract other impact and commercial investors.