The African Development Bank (AfDB), a multilateral institution that provides loans and grants to governments and private companies in Africa, recently announced its second call for proposals for the Microfinance Capacity Building Fund (MCBF), which was launched by AfDB and the government of Spain to expand the outreach of the African financial sector. Auditing agencies, financial institutions and network associations from West and Central Africa are invited to apply for grants ranging between USD 200,000 and USD 500,000. Applicants from the West African Economic Monetary Union (WAEMU) must propose projects addressing rural financial development such as agricultural value chain financing, branchless banking, e-banking, insurance, development of mobile payment systems and diversification of credit products. Proposals from countries in the Economic and Monetary Union of Central Africa (CEMAC) should address transparency while those from other countries within the Economic Community of West African States (ECOWAS) have more flexibility.
Applications may be submitted through http://www.fundsforafrica.org/mtf/apply/ by November 30, 2012. Between six and eight awards will be given.
MCBF is supported by the United Nations Capital Development Fund (UNCDF), which provides investment capital and technical advice to developing countries, with technical guidance provided by CGAP (Consultative Group to Assist the Poor), a US-based nonprofit policy and research center.
By Charlotte Newman, Research Associate
About African Development Bank Group Established in 1964, the African Development Bank (AfDB) provides loans and grants to governments and private companies in Africa. Owned and funded by member governments, the bank has a mandate to reduce poverty and promote sustainable development. Currently, AfDB shareholders consist of 77 member countries, which include 53 African countries to which it commits a total of approximately USD 3 billion annually. Donald Kaberuka serves as president of AFDB as of 2012.
Sources and Additional Resources:
AfDB: “2nd Call for Proposals for the AfDB Microfinance Capacity Building Fund,” http://www.afdb.org/en/news-and-events/article/2nd-call-for-proposals-for-the-afdb-microfinance-capacity-building-fund-9962/
Funds for Africa: Microfinance Capacity Building Fund: Apply http://www.fundsforafrica.org/mtf/apply/
MicroCapital.org story, March 19, 2012, “MICROCAPITAL BRIEF: Nigeria Chapter of Economic Community of West African States (ECOWAS) Federation of Business Women Entrepreneurs (FEBWE) Launched to Boost Cross-Border Entrepreneurship,” http://www.microcapital.org/microcapital-brief-nigeria-chapter-of-economic-community-of-west-african-states-ecowas-federation-of-business-women-entrepreneurs-febwe-launched-to-boost-cross-border-entrepreneurship/
MicroCapital.org story, July 21, 2011, “MICROCAPITAL BRIEF: African Development Bank (AfDB), Spain Launch Microfinance Capacity Building Fund for Africa, Offering Funding Through Request for Proposals,” http://www.microcapital.org/microcapital-brief-african-development-bank-afdb-spain-launch-microfinance-capacity-building-fund-for-africa-offering-funding-through-request-for-proposals/
MicroCapital Universe Profile: African Development Bank Group http://microcapital.org/microfinanceuniverse/tiki-index.php?page=African+Development+Bank++%28AfDB%29
MicroCapital Universe Profile: UN Capital Development Fund http://microcapital.org/microfinanceuniverse/tiki-index.php?page=United+Nations+Capital+Development+Fund+%28UNCDF%29
MicroCapital Universe Profile: CGAP http://microcapital.org/microfinanceuniverse/tiki-index.php?page=CGAP+%28Consultative+Group+to+Assist+the+Poor%29
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