MICROCAPITAL BRIEF: Innovations for Poverty Action (IPA), Citi Foundation Issue Call for Financial Capability Research Funding Proposals

Innovations for Poverty Action (IPA), a US-based nonprofit research organization, and Citi Foundation, the charitable arm of US-based financial service provider Citigroup, have issued a call for expressions of interest (EOI) for the Citi-IPA Financial Capability Research Fund. The fund aims to contribute to research in financial capability – the ability to effectively manage and make use of one’s money – by focusing on “cost-effective, client-based interventions” in three areas: (1) product-linked financial education; (2) incentives for behavior changes such as the use of financial services; and (3) product design encouraging the appropriate use of financial instruments. The program operators anticipate awarding approximately 10 grants for a total of USD 1.7 million via two or more funding rounds.

To be eligible, teams must have at least one financial service provider who plans to implement the product or intervention proposed and at least one researcher involved in the design of the intervention and is responsible for evaluating the program. Researchers need to be affiliated with a research institute or university, hold a PhD or be a current PhD candidate in a relevant field and have experience in field research. Only candidates from outside the US are eligible. Interested applicants who do not yet have a team may apply through July 20 to participate in a matchmaking program that will be held at the IPA Impact and Policy Conference from August 30 to September 1, 2012.

Applications for the Financial Capability Research Fund must be received by October 19, 2012. Selected applicants will be asked to submit full research proposals. Grant winners will be notified and receive their awards in January 2013. Applications should be submitted via email to fcresearch[at]poverty-action.org. For applications and more information you may visit http://www.poverty-action.org/financialcapability/competitivefund. IPA can be reached by telephone at +1 203 386 6200.

By Charlotte Newman, Research Associate

About Innovations for Poverty Action
Innovations for Poverty Action (IPA) is a US-based nonprofit organization that uses randomized evaluations to research the impacts of development programs in microfinance, health, agriculture, education, charitable giving and community development. IPA also provides technical assistance to governments and non-government actors. Founded in 2002 as part of the US-based Financial Access Initiative (FAI), IPA is now an independent entity. As of 2012, IPA has approximately 300 projects completed or underway in 38 countries. The organization disclosed approximately USD 25 million in income for 2010.

About Citi Foundation
The Citi Foundation provides grants and guarantees focusing on the areas of microfinance, small and growing businesses, education, asset building and neighborhood revitalization. As of 2009, Citi Foundation reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 65.8 million of which USD 12.3 million of is allocated to 152 investments. Citi Foundation is the charitable arm of US-based financial services provider Citigroup.

Sources and Additional Resources:

Innovations for Poverty Action: “Competitive Fund on Financial Capability,” http://www.poverty-action.org/financialcapability/competitivefund

MicroCapital.org story, June 15, 2012, “MICROCAPITAL BRIEF: Call for Papers: Impact and Policy Conference, Singapore, August 30 to September 1, 2012, Hosted by Asian Development Bank, Innovations for Poverty Action, Abdul Latif Jameel Poverty Action Lab,” https://www.microcapital.org/microcapital-brief-call-for-papers-impact-and-policy-conference-singapore-august-30-to-september-1-2012-hosted-by-asian-development-bank-innovations-for-poverty-action-abdul-latif-jameel-pover/

MicroCapital.org story, Marcy 27, 2012, “MICROCAPITAL BRIEF: Microsavings and Payments Innovation Initiative (MPII) of Innovations for Poverty Action (IPA) Accepting Expressions of Interest through May 4, 2012,” https://www.microcapital.org/microcapital-brief-microsavings-and-payments-innovation-initiative-mpii-of-innovations-for-poverty-action-ipa-accepting-expressions-of-interest-through-may-4-2012/

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