MICROCAPITAL BRIEF: Inter-American Awards for Financial and Entrepreneurial Innovation: Applications Due July 10, 2015

The Multilateral Investment Fund (MIF), a member of the IDB (Inter-American Development Bank) Group, has announced that it is accepting applications for the 2015 Inter-American Awards for Financial and Entrepreneurial Innovation, which is intended to recognize the achievements of institutions that support financial inclusion in Latin America and the Caribbean.

There are three award categories: (i) Financial Inclusion, to recognize an “innovative and efficient” financial institution that provides financial services to poor and low-income populations; (ii) Best Savings Product with a Purpose to recognize a financial institution in the region with an outstanding product that focuses on improving the lives of families; and (iii) Local Microenterprise Award, to recognize the efforts of microentrepreneurs who are leading “sustainable and successful enterprises in Chile.”

The deadline for submitting applications is July 10, 2015. The winners will be announced at the Foromic conference, an annual event for supporting and financing microenterprises in Latin America and the Caribbean, which will be held in Santiago, Chile, from October 26 to October 28, 2015. Online application forms and information on eligibility criteria are available at: http://www.fomin-events.com/foromic/2015/web/en-index.php#en-premios.

For additional information on the Local Microenterprise Award, you may email Abel Benitez at abenitez[at]economia.cl, and for all other information you may contact Foromic at foromic[at]iadb.org or at +1 202 623 1000.

By Arpita Sarkar, Research Associate

About the Inter-American Development Bank:

The Inter-American Development Bank (IDB) is a US-based multilateral finance institution that was established in 1959 and operates in Latin America and the Caribbean. IDB works with governments, companies and nongovernmental organizations (NGOs) to provide both loans and grants to support small and medium-sized enterprises (SMEs), health, education and other sectors. IDB also provides technical assistance and research in these areas. Its Board of Executives is elected by 48 member countries, 26 of which are located in Latin America and the Caribbean. As of December 2014, IDB reported total assets of USD 106.3 billion.

About the Multilateral Investment Fund:

The Multilateral Investment Fund (MIF) is an autonomous fund that was founded in 1993 by the US-based Inter-American Development Bank (IDB). As of 2015, MIF is a member of the IDB Group, which has 39 donating member countries from the Americas, Europe and Asia. From its inception in 1993 through 2013, MIF reports disbursing approximately USD 100 million per year in grants, equity investments and loans to a total of 1,745 projects in 19 countries.

Sources and Additional Resources:

MIF Press Release: “The MIF opens application period for 2015 Inter-American Awards for Financial and Entrepreneurial Innovation,”http://www.fomin.org/en-us/Home/News/PressReleases/ArtMID/3819/ArticleID/3010/The-MIF-opens-application-period-for-2015-Inter-American-Awards-for-Financial-and-Entrepreneurial-Innovation.aspx

Event Website: http://www.fomin-events.com/foromic/2015/web/en-index.php#en-premios

MicroCapital Universe Profile: Multilateral Investment Fund,
http://microcapital.org/microfinanceuniverse/tiki-index.php?
page=Multilateral+Investment+Fund+%28MIF%29

MicroCapital Universe Profile: Inter-American Development Bank,
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Inter-American+Development+Bank+%28IDB%29

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/

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