USDA Rural Development State Director for Puerto Rico Participates in NEXA Summit, an Impact Invest Summit that is Being Held in the Puerto Rico Convention Center

San Juan, Puerto Rico - April 10, 2024 – Maximiliano J. Trujillo-Ortega, USDA Rural Development State Director for Puerto Rico was invited to speak at the NEXA Summit that is been held in the Puerto Rico Convention Center this week from April 10 to 11 of 2024. He will be speaking on the issue of blended finance and opportunities in Puerto Rico.

This Summit can be a vehicle that allows changemakers work together and discuss best practices, cutting edge data, and the most effective strategies needed to design a more prosperous future for Puerto Rico. The partners in the summit are the Federal Reserve Bank of New York, the Clinton Global Initiative, the Boys & Girls Clubs of Puerto Rico, and the governors of Puerto Rico Office, among others. The summit is an essential meeting point for leaders, investors, and organizations committed to change and the collaboration to create an epicenter of innovation and collaboration for the island.

Trujillo-Ortega indicated that the Biden-Harris Administration has made unprecedented levels of federal funding available to Puerto Rico for resilience, recovery, infrastructure, and economic growth. “USDA Rural Development funding programs can facilitate cooperation between the private, public, and philanthropic sectors.” “This is a historic opportunity for Puerto Rico to make transformative change on the island.” USDA Rural Development State Director briefed the audience on the importance of the Agency’s financing program of the agency such as:

1. Rural Energy for America Program (REAP) provides loan financing and grant funding to agricultural producers and rural small business for renewable energy system or to make energy efficiency improvements. Application Windows June 30, 2024, and September 30, 2024.
2. Intermediary Relending Program (IRP) provides 1% low interest loan to local lenders or intermediaries that relend to businesses to improve economic conditions and create jobs in rural communities. Application Window July 1, 2024
3. Rural Microentrepreneur Asistance Program (RMAP) provides loans and grants to help startup and growth through a Rural Microloan Revolving Fund or to provide training and technical assistance to microloan borrowers and micro entrepreneurs. Application Window June 30, 2024.
4. Socially-Disadvantage Groups Grant provides technical assistance to socially disadvantage groups in rural areas through cooperatives and Cooperative Development Centers. Application Window June 3, 2024.
5. Electric Infrastructure Loan Program provides investment capital to support the creation, improvement and maintenance of electric generation, transmission, and distribution systems. The objective is to ensure that rural communities have access to reliable energy. Application Window Open.
6. Rural Energy Saving Program (RESP) provides access to clean energy capital so that rural families, businesses, and organizations can make energy transition and improve quality of life in rural areas by relending through competitive rates. Application Window Open.

USDA Rural Development is the perfect partner because it provides loans and grants to help expand economic opportunities and create jobs in rural areas.  This assistance supports infrastructure improvements, business development, housing, community facilities such as schools, public safety and health care, and high-speed internet access in rural areas. For more information, visit www.rd.usda.gov/pr.

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