The Inter-American Development Bank today announced it will hold the fourth annual competition for its Inter-American Awards for Microenterprise Development, which recognize the outstanding achievements, innovations and leadership of institutions and individuals who help low-income businesspeople in Latin America and the Caribbean.
The contest will be open to formal financial institutions and non-governmental organizations involved in microlending, as well as to institutions that provide business development services to microentrepreneurs. A special category of the awards recognizes the work of individuals who combine a strong social commitment with sound business practices in the promotion of microenterprise and community development.
The award categories are:
- Award for Microfinance — Recognizes both regulated financial intermediaries and non-profit foundations (NGOs) that have achieved success in broadening the availability of financial services to microentrepreneurs.
- Award for Business Development Services — Recognizes organizations that have demonstrated effectiveness in providing and expanding non-financial products and services to microentrepreneurs in a sustainable way.
- Award for Social Entrepreneurship — Recognizes individuals working in private sector institutions or civil society organizations who combine social commitment and sound business practices to promote microenterprise and community development.
The award ceremony will be held on September 10 in Rio de Janeiro as part of the V Inter-American Forum on Microenterprise, which will open on September 9. The IDB will invite delegates from the winning institutions to take part in the forum, which will bring together leading practitioners in the field of microenterprise and microfinance.
The forum and the competition are organized by the IDB’s Micro, Small and Medium Enterprise Division, which will receive applications for the contest until May 31, 2002. To request forms, please e-mail micawards@iadb.org, or send a fax to (202) 623-2307 or to (202) 312-4134, or download them directly from our website: http://www.iadb.org/sds/mic.