San Juan, October 9, 2019 | The Puerto Rico Community Foundation (FCPR) will promote economic development and entrepreneurship in the south-west and eastern area of Puerto Rico after receiving a grant of $249,604 from the U.S. Department of Agriculture, Rural Development -which the FCPR will match for the same amount - to implement the Recovery Program-Rural Community Development Initiative for Puerto Rico.
The total investment of $499,208 will enable FCPR to work closely with three community-based organizations: Ceiba Economic Development Alliance (APRODEC), located in the Quebrada Seca neighborhood; Sabana Grande Community and Economic Development (SACED), located in the Rayo neighborhood; and Bucarabón Foundation, located in the Bucarabones neighborhood in Maricao. Over a period of three years, participants from these neighborhoods, as well as from communities located in towns near the host municipality, will benefit from initiatives related to the development of community asset maps and business plans; pre-incubation and incubation of businesses, strengthening of local entrepreneurship initiatives, and guidance on opportunities for access to capital, among others. They will also receive capacity building, The project will provide technical assistance and mentoring to stimulate entrepreneurship and a more vigorous economic activity that will result in the strengthening of the regional economy.
“With this collaboration we contribute to the development of human and financial capital in these communities, which allows us to promote social and financial justice. We are pleased to be able to continue this long-standing relationship with the U.S. Department of Agriculture, Rural Development, in order to empower community economic development in Puerto Rico.”, said the president of the FCPR, Dr. Nelson I. Colón Tarrats.
This year, the FCPR was the only non-profit entity in Puerto Rico to receive this grant, in addition to having one of the highest scores among all the organizations that applied in the United States and Puerto Rico. For the past 16 years, this is the fourth time that the FCPR has been a recipient of this type of funding.
«USDA Rural Development is committed to strengthening the prosperity of rural communities in Puerto Rico. Our partnership with FCPR through this Rural Community Development Initiative provides beneficial training and technical assistance in entrepreneurship, which will enable more than 4,600 Puerto Ricans to take ownership of their economic development and achieve a more prosperous future.«said USDA Rural Development State Director Josue E. Rivera.
VERSIÓN EN CASTELLANO
US Department of Agriculture's Rural Development and Fundación Comunitaria de Puerto Rico team up to promote economic development and entrepreneurship in Puerto Rico's southwestern and eastern areas southwestern and eastern areas
San Juan, October 8, 2019 | Puerto Rico Community Foundation (FCPR) will promote economic development and entrepreneurship in Puerto Rico's southwestern and eastern areas after receiving a grant of $249,604 from the U.S. Department of Agriculture, Rural Development, an award that FCPR will match in the same amount, to implement the Recovery Program-Rural Community Development Initiative for Puerto Rico.
The total investment of $499,208 will allow FCPR to work closely with three community-based organizations: Ceiba Economic Development Alliance (APRODEC) - Quebrada Seca, Ceiba; Sabana Grande Community and Economic Development (SACED) - Rayo, Sabana Grande and; Fundación Grande Community and Economic Development (SACED) - Rayo, Sabana Grande and; Fundación Bucarabón - Bucarabones, Maricao. The three-year program will guide these communities in the development of community asset maps, business plans, pre-incubation and business incubation, strengthening of local entrepreneurship initiatives, and will advise on opportunities to have access to financial capital, among others. They will also receive capacity building, technical assistance and mentoring to stimulate entrepreneurship and a more vigorous economic activity stemming from its residents to strengthen the region's economy.
“This collaboration allows us to contribute to the development of human and financial capital, allowing the financial capital, allowing the strengthening of the overall community capital in these communities, thus in these communities, thus promoting financial and social justice. We are pleased to continue our long-time relationship with U.S. Department of Agriculture's Rural Agriculture's Rural Development to empower community economic development in Puerto Rico,”said FCPR President Dr. Nelson I. Colón-Tarrats.
FCPR has been the recipient of this type of grant four times in the past 16 years. It became the only local nonprofit organization to receive the grant this year.
“USDA Rural Development is committed to bolstering prosperity in Puerto Rico's rural communities. communities. Our partnership with FCPR through this Rural Community Development Initiative provides invaluable training and technical assistance in entrepreneurship that will enable over 4,600 Puerto Ricans to take command of their economic development and achieve a more prosperous future,” stated USDA Rural Development State Director Josué E. Rivera.