Maryland-Africa and the Caribbean Investment and Development Program - Establishment
In the House - Hearing 3/10 at 1:00 p.m. (Economic Matters)
Summary
The bill establishes the Maryland‑Africa and Caribbean Investment and Development Program within the Department of Commerce, along with an advisory board, to study and promote trade and investment between Maryland’s African diaspora and Africa/Caribbean regions. It also creates a dedicated fund that can give grants, low‑interest loans, and technical assistance to eligible diaspora‑owned businesses, especially in Northeast Baltimore. Recipients must meet hiring and wage conditions, and the program is funded with $10 million annually from 2028‑2032.
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