Financing Facility for Remittances - Call for Proposals
The International Fund for Agricultural Development, a specialized agency of the United Nations, in partnership with the European Commission; the Inter-American Development Bank (Multilateral Investment Fund); the Consultative Group to Assist the Poor; the Government of Luxembourg; the Ministry of Foreign Affairs and Cooperation, Spain; and the United Nations Capital Development Fund, is pleased to announce the Financing Facility for Remittances (FFR) 2009 call for proposals on:
Promoting innovative remittance systems and investment channels for migrants
The FFR, a US$15 million multi-donor facility, aims to reduce rural poverty and promote development. The facility will increase economic opportunities for the rural poor through support and development of innovative, cost-effective and easily accessible international or domestic remittance services, with or within countries in Africa, Asia, Europe, Latin America and the Caribbean (LAC), and the Near East.
The objectives of the 2009 call for proposals are to:
- Improve remittance transmission and access to remittance services in rural areas
- Link remittances to financial services and products in rural areas
- Develop innovative and productive rural investment channels and opportunities for migrants and community-based organizations
Through a four-phase competitive process, the FFR will award grant financing of up to US$250,000 per project to eligible institutions, to be implemented within a two-year period. Applicants must provide a minimum counterpart contribution of 20 per cent of the amount requested (or 30 per cent for projects in the Latin America and the Caribbean region), of which at least half should be in cash.
- Deadline for application of concept proposals: 29 May 2009
- Finalist pre-selection and request for full proposals: 17 July 2009
- Deadline for submission of full proposals: 14 August 2009
- Selection of finalists: 24 September 2009
For detailed instructions on how to apply, please visit: www.ifad.org/remittances
NGOs applying for this funding opportunity need to look beyond just implementing the activities. Remittances can be powerful tools not only for development but also for long-term sustainability of NGOs.
Working on the rights of women and children in Nigeria.