Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean; Multilateral Investment Fund (MIF), an autonomous fund administered by IDB; Andean Development Corporation (CAF, in Spanish), a multilateral financial institution based in Venezuela; and Global System for Mobile Communications Association (GSMA), an organization representing approximately 750 cell phone operators, have issued a call for proposals as part of the launch of the second Technologies for Financial Inclusion Program [1].
The group is seeking proposals for “ideas for projects that aim to use innovative technologies to allow low-income individuals in Latin America and the Caribbean better access financial services” [1].
Created in 2010, the program has a budget of USD 10 million [2]. Private companies, technology service providers, NGOs, cooperatives, associations, financial institutions, banks, foundations and other entities are invited to submit ideas for projects that aim to increase access to finance, reduce operating costs or help develop new financial products in the region. Winners will receive up to USD 300,000 each to implement the projects.
For further information or to submit proposals, you may visit the program’s website at: http://www.tec-in.org/
Proposals will be accepted from May 30 to July 15, 2011.
By: Alexandra Pattee, Research Associate
About Inter-American Development Bank (IDB): The Inter-American Development Bank (IDB) is a US-based multilateral finance institution established in 1959 that 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. IDB reported total assets of USD 84 billion as of December 31, 2009.
About Multilateral Investment Fund (MIF): Multilateral Investment Fund (MIF) is an autonomous fund administered by the Inter-American Development Bank (IDB), a multilateral, development finance organization based in the United States that operates in Latin America and the Caribbean. The fund recently started decentralizing its operations, giving IDB country offices more autonomy to distribute “mini-loans,” with the idea that a greater amount of smaller projects will reach more people. MIF has 38 donating member countries from Latin America, the Caribbean, North America, Europe and Asia. The United States and Japan play leading roles in the organization.
About CAF (Andean Development Corporation): The Andean Development Corporation (CAF, in Spanish) is a multilateral financial institution owned by 16 shareholder countries and 14 private banks in Latin America and the Caribbean, as well as Spain and Portugal. Established in 1970 in Caracas, Venezuela, CAF provides loans for purposes such as microfinance, infrastructure and health in Latin America and the Caribbean. It also provides financial advisory services and technical services. CAF reported total assets of USD 15.9 billion as of December 31, 2009.
Sources and Resources:
[1] Inter-American Development Bank, “Technologies for Financial Inclusion call for proposals”, http://www.iadb.org/en/news/announcements/2011-05-02/development-organizations-seek-projects-for-low-income,9355.html
MicroCapital’s Microfinance Universe: Inter-American Development Bank (IDB),?https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Inter-American+Development+Bank+%28IDB%29
MicroCapital’s Microfinance Universe: Multilateral Investment Fund (MIF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Multilateral+Investment+Fund+(MIF)
MicroCapital’s Microfinance Universe: CAF (Andean Development Corporation): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Andean+Development+Corporation+%28CAF%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: BIM Borrows $20m from IDB Invest for Locfund Next to Support Lenders to MSMEs in Latin America, Caribbean
- MICROCAPITAL BRIEF: MSMEs in Amazon to Access $900m Loan Pool from IDB, BNDES of Brazil
- MICROCAPITAL BRIEF: IDB Lab Accepting Applications from Entrepreneurs in Latin America, Caribbean for WeXchange Women STEMpreneurs Competition, Partner of Google for Startups, Through March 31
- MICROCAPITAL BRIEF: FSPs in Ecuador to Evaluate Role of Bias in Financial Access for Women-led MSMEs with Support from IDB Invest, RFD
- MICROCAPITAL BRIEF: IDB Invest, Oikocredit Subscribing to $20m Bond from CJA to Finance MSMEs in Ecuador, Targeting Underrepresented Groups
