The International Fund for Agricultural Development (IFAD), a specialized agency of the United Nations, in partnership with the Consultative Group to Assist the Poor (CGAP), the European Commission (EC), the Government of Luxembourg, the Inter-American Development Bank (IDB), the Spanish Ministry of Foreign Affairs and Cooperation (MAE) and the United Nations Capital Development Fund (UNCDF), is pleased to announce the Financing Facility for Remittances (FFR) call for proposals 2010 on Promoting innovative remittance systems and investment channels for migrants.

The FFR, a US$18 million multi-donor facility, aims to reduce rural poverty and promote development. The facility increases 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 2010 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.

 

Dates

Opening of online registration 6 April 2010
Deadline for online application of concept proposals 7 June 2010
Finalist pre-selection and request for full proposals 23 July 2010
Deadline for submission of full proposals 10 Sep 2010
Selection of finalists 4 Nov 2010

Note. Dates may vary onward depending on the number of concept proposals received.

Applicants may be (a) a non-profit institution such as a non-governmental organization; (b) a public, governmental institution; (c) a for-profit entity; or (d) mutual/cooperative organization or credit union. For-profit entities are strongly encouraged to partner with non-profit institutions for the development of joint project proposals.

Through a four-phase competitive process, the FFR awards grant financing of up to US$250,000 per project to eligible institutions (except for proposals under the mobile banking and mobile money transfers thematic window with a US$500,000 grant maximum), to be implemented within a two-year period. Depending on the nature of the applicants’ organization, a minimum counterpart contribution ranging from 20 to 50 per cent will be required.

 


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