The Inter-American Development Bank (IDB), the Multilateral Investment Fund (MIF), and CAF –Development Bank of Latin America announce a call for project ideas that would use effective and innovative technology solutions to increase and improve low-income populations’ access to financial services in Latin America and the Caribbean.
This is the third call for proposals of the Technologies for Financial Inclusion Program, which invitesprivate enterprises, providers of technological services, NGOs, cooperatives, associations, finance companies, banks, foundations and others to submit ideas for projects.Selected project ideas may receive up to $300,000 to support implementation.
Examples include projects that would develop, integrate and implement technology solutions for that:
- Provide a variety of financial services to rural or underserved populations through agents and/or mobile technologies;
- Offer new financial services and products, such as savings, payment or money transfer systems, and/or expand services to customers who cannot be served by existing technology;
- Increase efficiency, reduce costs, and improve current financial and operating systems.
The call for proposals has 3 phases: (i) identification and selection of ideas that are in line with the program’s objective; (ii) preparation and co-financing of project strategies that are socially desirable, technically feasible, and economically viable; and (iii) implementation of projects, with measureable results that capture and share lessons learned to generate knowledge in the region.
Interested applicants should send a video (no longer than 3 minutes) to www.tec-in.org between June 4th and July 4th, 2012.
The video should answer the following questions:
1. What is the problem to be solved and what is the proposed solution?
2. What is the level of advancement in the project’s implementation and what is the existing commitment level of supporting institution(s)?
3. What results are expected to be achieved?
4. Who will be the beneficiaries?
5. How will the results contribute to the financial inclusion of underserved populations?
6. What are the particular and distinctive characteristics of your project as compared to other existing ideas in the market?
The Technologies for Financial Inclusion Program was launched in 2010 and more than 600 ideas have been received in past years. More than 30 have been selected to be converted into projects. To date, 6 projects have already obtained funding and 8 more will receive it soon.
For more information or to raise questions, contact firstname.lastname@example.org.
- Romina Tan Nicaretta