Memorandum of Understanding Between the Government of the United States of America and the Government of the Republic of Peru on Promoting Growth of Micro, Small and Medium Enterprises

This partnership aims to enhance economic prosperity and create employment opportunities for Peruvian citizens. The Governments recognize the importance of MSMEs as drivers of economic growth and acknowledge the need to promote equal access to economic opportunities for women entrepreneurs and ethnic minority entrepreneurs. The partnership focuses on strengthening the Small Business Network of the Americas, which includes the Small Business Network of the Americas and the Women's Entrepreneurship in the Americas Initiative. The Governments intend to support the creation of small business development centers and other MSME support centers that provide entrepreneurs with information, tools, and counseling to develop and grow their businesses. These centers will be integrated into a national network and will be inclusive and accessible to a diverse group of entrepreneurs. The Governments also aim to promote partnerships between Peruvian businesses and entrepreneurs among the Peruvian diaspora in the United States. They will explore opportunities to evaluate the impact of small business development centers and the Small Business Network of the Americas on spurring growth of MSMEs, increased employment, greater productivity, and increased participation in international trade. Furthermore, the Governments will work together to identify and address the major impediments to MSME access to credit. The partnership also focuses on promoting the goals of the Women's Entrepreneurship in the Americas Initiative, which includes working with the private sector to develop and promote training opportunities for women entrepreneurs and business owners. The Governments will promote the participation of women entrepreneurs in training and mentorship opportunities and convene women entrepreneurs in fora to promote their businesses to domestic and international markets. The Governments intend to further enhance their cooperation in areas including, but not limited to, MSME participation in government procurement opportunities and helping MSMEs recover from natural disasters. The partnership will supplement the assistance programs of the United States Agency for International Development (USAID), which is closing out assistance in the area of Economic Growth, including MSME assistance. The Memorandum of Understanding between the United States and Peru Governments will be implemented in a manner consistent with the respective national laws and regulations of the Participants. The activities covered by this Memorandum of Understanding are subject to the availability of appropriated funds and will be coordinated by the United States Department of State and the Ministry of Production on behalf of Peru.