{"id":37388,"date":"2023-04-22T17:30:11","date_gmt":"2023-04-22T17:30:11","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses"},"modified":"2023-04-22T17:39:32","modified_gmt":"2023-04-22T17:39:32","slug":"u-s-government-partners-with-gapi-to-support-local-small-businesses","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses","title":{"rendered":"U.S. government partners with GAPI to support local small businesses"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The The U.S. Government, through the United States Agency for International Development (USAID), announced a new fund to help small businesses in Central and Northern Mozambique to overcome the shocks of recent cyclones and the Covid-19 pandemic. This fund, totaling $4.5 million, will provide affordable credit tailored to the needs of small firms in the agriculture and food sector, prioritizing women-owned and youth-owned businesses. The Mozambican public-private development bank Gabinete de Apoio e Consultoria a Pequenas Indu\u0301strias (GAPI) is contributing $500,000 of the total and will provide affordable credit combined with technical assistance to micro, small, and medium enterprises in Cabo Delgado, Nampula, and Sofala. USAID will contribute the remaining $4 million through the USAID SPEED program, targeting 3,000 local businesses over the next two years.<\/p>\n

Just as small companies in Mozambique were beginning to recover from cyclones Idai and Kenneth, the COVID-19 pandemic took hold and forced the closure of many small businesses. With climate experts predicting more frequent extreme weather events in coming years, the United States Government has been working with the Government of Mozambique to to support Mozambicans facing economic shocks. This partnershipwill reach 3,000 local businesses over the next two years, allowing access to funds for restarting a business after an unexpected shock. These funds will allow for small businesses to recover more quickly in provinces such as Sofala, Zambezia, and Inhambane due to the damage from cyclone Freddy.<\/p>\n

USAID Mission Director Helen Pataki said \u201cUSAID is excited to partner with GAPI to establish a sustainable revolving fund that will provide affordable financing to businesses in future times of crisis. This credit availability can make the difference between a small business remaining open after a shock and providing services to Mozambicans or closing.\u201d<\/p>\n

Support to small local businesses is an important component of the broader U.S Government assistance in Mozambique. In close collaboration with the Government of the Republic of Mozambique, the U.S. Government provides more than $700 million in annual assistance to improve diversified and inclusive economic growth, promote economic prosperity, and support the overall development of the nation.<\/p>\n

About USAID<\/b><\/p>\n

The United States Agency for International Development (USAID) leads the U.S. Government\u2019s international development and disaster assistance through partnerships and investments that save lives, reduce poverty, strengthen democratic governance, and help people emerge from humanitarian crises. For more information about USAIDs work, visit www.usaid.gov.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The The U.S. Government, through the United States Agency for International Development (USAID), announced a new fund to help small businesses in Central and Northern Mozambique to overcome the shocks of recent cyclones and the Covid-19 pandemic. This fund, totaling $4.5 million, will provide affordable credit tailored to the needs of small […]<\/p>\n","protected":false},"author":84,"featured_media":37386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-37388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nU.S. government partners with GAPI to support local small businesses - Mozambique<\/title>\n<meta name=\"description\" content=\"The The U.S. Government, through the United States Agency for International Development (USAID), announced a new fund to ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. government partners with GAPI to support local small businesses\" \/>\n<meta property=\"og:description\" content=\"The The U.S. Government, through the United States Agency for International Development (USAID), announced a new fund to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-22T17:30:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-22T17:39:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/04\/postQueueImg_1682168423.75.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1140\" \/>\n\t<meta property=\"og:image:height\" content=\"684\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"U.S. government partners with GAPI to support local small businesses\",\"datePublished\":\"2023-04-22T17:30:11+00:00\",\"dateModified\":\"2023-04-22T17:39:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses\"},\"wordCount\":416,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/04\/postQueueImg_1682168423.75.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/u-s-government-partners-with-gapi-to-support-local-small-businesses\",\"name\":\"U.S. government partners with GAPI to support local small businesses - 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