Media Center



  October 3, 2003

The Inter-American Agency for Cooperation and Development (IACD) has announced a program to promote corporate social responsibility in four Latin American countries, with Canadian International Development Agency (CIDA) funding to the tune of Can$500,000.

An IACD initiative—developed jointly with the regional network Forum EMPRESA—the program will foster measures for the private sector in Chile, Brazil, El Salvador, and Peru, particularly targeting small- and medium-sized enterprises. The CIDA contribution will complement the recently approved US$1.1 million grant from the Inter-American Development Bank’s Multilateral Investment Fund. The IACD also received support from the United States Mission to the OAS for the original design of the program. The models developed in these four countries will be extended to the rest of Latin America and the Caribbean.

In underlining the significance of the program, IACD Director General L. Ronald Scheman stated, “The new program will demonstrate that improving the environment in which their employees work results in real increases of productivity and competitiveness. It will increase awareness among businessmen of the benefits of CSR and disseminate its new approaches among the private sector as well as with NGOs, universities and governments. These principles will be applied to pilot groups of small and medium-sized enterprises, to utilize their experiences as an example for other companies.”

The Inter-American Agency for Cooperation and Development was created by the General Assembly in November of 1999, as part of the ongoing modernization of the OAS. The Agency’s mission is to accelerate the development of member states through technical cooperation, training, and capacity-building; promote new and more effective forms of cooperation among member states; and enhance partnerships with the private sector, civil society and other development organizations. CIDA is directly contributing to the development of new programming approaches by the IACD with a recently approved CAN$5 million envelope. Funds announced today will come out of this program.

Reference: IACD-03