Consortia of American Businesses in the Newly Independent States Announcement of Availability of Funds

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On May 24, 1994, 59 FR Part VI, the Department announced the availability of federal grant funds under the CABNIS program and its intention to select non-profit organizations to participate as grantees under the program. The Department of Commerce has selected three additional applicants to receive federal funding under the Consortia of American Businesses in the Newly Independent States (CABNIS) initiative. Each of the three selected applicants is a non-profit consortium created to help for-profit U.S. member companies do business and enhance private sector development in the independent states formed since the breakup of the Soviet Union. The grantees will be required to match federal funding. The grantees will use CABNIS seed money over a three year period to form and nurture U.S. business consortia of for- profit firms interested in doing business in the Newly Independent States, and establish and operate consortia offices in the region. The three new grantees are the American Agribusiness Equipment Consortium, Alexandria, VA; Partners In Economic Reform, Washington, DC; and Virginia Commonwealth University, Richmond, VA.