On the recordDecember 5, 2019
for 50 years the Inter-American Foundation, IAF, has partnered with grassroots organizations and underserved populations throughout Latin America and the Caribbean to advance U.S. interests by helping to improve the lives of the hemisphere's poorest people, supporting civil society, and strengthening democratic institutions. I want to take this opportunity today, on IAF's 50th anniversary, to comment briefly on the foundation's accomplishments and on the unique value of small-grant, community-led development. In 1969, Congress established IAF as an independent development agency charged with identifying and investing in community-led development solutions. IAF awards small grants, averaging $280,000 over 4 years, directly to local organizations, eliminating costly intermediaries and ensuring programs are led and implemented locally. IAF also requires grantees to contribute or mobilize their own cash or in-kind resources, helping to ensure sustainability and local investment in project success. On average, such counterpart investments mobilize $1.31 for every $1 invested by IAF. According to IAF, in fiscal year 2019 alone, it awarded $18.5 million to 97 grassroots organizations in 24 countries and mobilized $20 million in grantee counterpart resources.…
