The Inter-American Development Bank will hold a competition for its annual awards for microenterprise development to recognize the outstanding achievements, innovations and leadership of institutions and individuals who help low-income businesspeople in Latin America and the Caribbean.
The contest for the Inter-American Awards for Microenterprise Development will be open to formal financial institutions and non-governmental organizations involved in microfinance, 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 at a local, national or regional scope.
The award ceremony will take place on September 4th in Guatemala City as part of the VI Inter-American Forum on Microenterprise, which will be held September 3-5. The IDB will invite delegates from the winning institutions to participate in the forum, which will bring together leading practitioners in the field of microenterprise and microfinance.
Inter-American Awards
The microenterprise forum and the annual competition are organized by the IDB’s Micro, Small and Medium Enterprise Division, which will receive applications for the contest until May 31, 2003. To request forms, please e-mail micawards@iadb.org or send a fax to (202) 623-2307 or (202) 312-4134, or download them directly from our website.
To apply for the contest, organizations must have headquarters in an IDB member country in Latin America or the Caribbean and a minimum of three years of experience in the area covered by the award. Organizations that have won an Inter-American Award in the three previous years may not apply. Competitors may submit an application for only one of the three award categories:
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Awards for Excellence in Microfinance – Recognize institutions that have successfully increased the availability of financial services to microentrepreneurs. Outstanding organizations in this field have proven that they can provide financial services to low-income people and achieve solid financial performances. These awards are given annually to two financial intermediaries, a regulated institution (such as a bank) and a non-regulated institution (such as an NGO).
- Award for Excellence in Business Development Services – Recognizes organizations that have demonstrated exceptional effectiveness in supplying and expanding business development services to the microenterprise sector. Such services include, among others, training and technical assistance; consulting and advisory services; marketing assistance; technology information, development and transfer; and the establishment of links between enterprises.
- Awards for Excellence in Social Entrepreneurship – Recognize civil society or private sector leaders who combine a strong social commitment and sound business practices to promote microenterprise and community development. Their efforts go beyond the scope of traditional development practices to support the economic progress of marginal groups. These awards will be granted to two people this year, one working at a local or community level and another one at a national and/or regional level.
Institutions that apply for more than one award category will be disqualified.