FROM THE OFFICE OF PUBLIC AFFAIRS

The Treasury Department announced on Monday that the Community Adjustment and Investment Program (CAIP), an affiliate of the North American Development Bank (NADBank), has launched a new grant and technical assistance program and has expanded the areas eligible for CAIP assistance.

In an effort to better serve individual communities, the CAIP is now soliciting applications for direct grants and technical assistance for specific projects, with up to $6 million available on a competitive basis to fund grants in eligible areas. The deadline for submitting grant applications is January 17, 2000. Awards will be announced this spring. Eligible applicants are 501(c)(3) and 501(c)(4) non-profit organizations, public and private institutions of higher education, state and local political agencies and subdivisions, and Indian tribal governments.

By adopting broader and more flexible eligibility requirements, the CAIP has also achieved a 62 percent increase in the number of counties qualified to apply for CAIP loans, loan guarantees, grants and technical assistance. CAIP assistance is now available to 207 counties located in 30 states and the Commonwealth of Puerto Rico.

The CAIP, as a domestic program affiliated with the NADBank, encourages and fosters economic opportunities within communities that have experienced temporary job displacements related to implementation of the North American Free Trade Agreement. To date, the program has facilitated more than $204 million in loans and loan guarantees in 26 states, helping to create or retain more than 6,600 jobs.

The NADBank is an international financial institution jointly capitalized and governed by the United States and Mexico to finance environmental infrastructure projects along the U.S./Mexico border.