In-Brief

Entities partner to boost entrepreneurship ecosystem

Annette Montoto, president of Microfinanzas Puerto Rico. Annette Montoto, president of Microfinanzas Puerto Rico.

Microfinanzas Puerto Rico and the three campuses that make up the Ana G. Méndez University System recently signed a collaboration agreement to develop and strengthen a business ecosystem that benefits the university students and the communities where the campuses are located, including low-income areas.

The agreement between the two entities includes Metropolitan University (UMET), Universidad del Turabo and Universidad del Este, as well as the university’s central Administration.

“The objective of this collaborative partnership is to enable students, faculty and university administration and communities with orientation workshops to encourage the growth of productive activities, or micro-enterprises, and educate about funding opportunities available for this sector,” said Annette Montoto, president of Microfinanzas Puerto Rico.

“There are microfinance solutions and tools available that provide for a sustainable economic development ecosystem by strengthening productive activities, creating new businesses and jobs, and increased focus on the concept of micro-enterprises and self-employment,” she added.

The educational workshops and seminars program will be offered at each university.

“This partnership will allow our college students to contribute to the economic development of their communities, job creation and self-employment. We encourage our students and the community of the towns where we have universities [Aguadilla, Bayamón, Jayuya and Comerío] to participate in these workshops,” said Carlos M. Padín-Bibilioni, rector of the Metropolitan University campus.

As part of this agreement, Microfinanzas Puerto Rico will provide executives with specialized expertise in microfinance to offer guidance on the process for applying for credit from the institution using the microfinance methodology.

Microfinanzas Puerto Rico is part of the BBVA Microfinance Foundation, which has been operating in Puerto Rico since 2009, promoting Puerto Rico’s socio-economic development and better quality of life, facilitating the growth of productive activities among needy communities.

Author Details
Business reporter with 25 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other areas of the economy.

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