Unleashing Micro-Economic Reforms in Cuba: Investing in Cubans

small projects: unleashingThis Cuba Study Group sponsored project is aimed towards assisting Cubans on the island by providing them with the know-how, the resources and the conditions to setup and operate their own small businesses as soon as Cuban law permits.

Realizing that Cuba’s success as a democratic and free state will depend heavily on its people’s ability to build a better life for themselves and their families as well as the important role that privately-owned small businesses will play in Cuba’s future economy, the Cuba Study Group will provide financial and academic assistance to Cuban entrepreneurs, thus contributing to the emergence of a vibrant entrepreneurial class in Cuba.

Our multifaceted plan includes the following initiatives:

In collaboration with Banco Compartamos, S.A. (Mexico), we will establish a micro-lending capability for Cuba to be immediately available as soon as permitted by Cuban law. The intention is to syndicate and fund an initial capitalization tranche of approximately $10 million, with a plan to obtain significant additional commitments. We intend to make these micro-loans available throughout all provinces.

The Cuba Study Group has formed the Cuba Executive Corps, into which we intend to recruit talented Cuban-American executives and entrepreneurs (including our own members) who are willing to lend their time to provide training and development to our Cuban brethren on micro and small enterprise formation and development.

In collaboration with the University of Miami’s Institute for Cuban and Cuban-American Studies, we intend to provide the seed funding and assistance to launch a web-based facility to provide Cubans on the Island with education, training, and information on small enterprise formation and operation.