PORT-OF-SPAIN, TRINIDAD (AP) - The White House says it will participate in a $100 million program to help small entrepreneurs in Western Hemisphere.
The White House says the new fund would loosen credit from banks and get money moving to small businesses. Such microfinance loans have proved successful in other developing regions.
The U.S. says the ultimate goal is to raise $250 million.
President Barack Obama announced the fund during the Summit of the Americas on the island nation of Trinidad and Tobago.