MICROCAPITAL BRIEF: Applications for $60k Arab Financial Inclusion Innovation Prize (AFIIP) Open Through June 25, 2021

The organizers of the Arab Financial Inclusion Innovative Prize (AFIIP) are now accepting applications from financial services practitioners to compete for an award of USD 60,000 plus technical assistance in implementing their ideas. In past years, AFIIP has offered a financial inclusion prize for innovation in Arab nations that improves financial services catering to poor people as well as micro-, small and medium-sized enterprises (MSMEs). This year, individuals and organizations also may be recognized for solutions that “mitigate the risks of climate change, increase environmental resilience for the low-income and MSMEs, provide sustainable opportunities to the underserved and enhance the green finance ecosystem of the Arab world.” Interested applicants should submit a proposal outlining their solution, which may be at any stage of development, by Friday, June 25, 2021.

AFIIP was founded in 2018 by Rakiza, a Lebanon-based NGO that seeks to promote financial inclusion and education to increase economic opportunity in the Middle East and North Africa. Financial details on the organization are not available.

AFIIP is sponsored by the technical assistance facility of the Luxembourg-domiciled Sanad Fund for MSME; Financial Sector Deepening (FSD) Africa, an NGO funded by the UK government; and Spectrum Digital, a holding company with interests in financial technology, artificial intelligence and health services.

By Sophie Fiala, Research Associate

Sources and Additional Resources

AFIIP homepage
https://www.afiip.org/

Rakiza homepage
https://www.rakiza.org/

Sanad Fund for MSME homepage
https://sanad.lu/

FSD Africa homepage
https://www.fsdafrica.org/

Spectrum Digital homepage
https://www.spectrumdigitalholding.com/

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