World Bank today launched a competitive grant-based funding with access to over USD 1 million for profit and non-profit organisations working in the area of delivering services to the poor in north-eastern states.
"...Launch of the 2014 India Development Marketplace (DM) calls for proposals so that organisations in India can access overall funding of over USD 1 million for implementing innovative service delivery approaches in the Northeastern states of Assam, Mizoram, and Meghalaya," the global funding agency said in a release.
It said the DM is a competitive grant-based programme that will identify and support non-profit and for-profit bodies that effectively deliver crucial services to the poor.
"The DM also analyses effective practices of these enterprises in order to expand innovative solutions in getting crucial services to poor populations," it added.
With the success of 2013 India Development Marketplace, the programme for 2014 aims to focus on enterprises that target the north-eastern states of Assam, Mizoram and Meghalaya.
"In 2014, the DM will award approximately 10 organisations with grant funding up to USD 150,000 (Rs 94 lakh) each. In addition to the financial resources, the grantees will be supported through a tailored capacity development programme delivered with the local partners," it said.
The DM and South Asia Inclusive Business Models Group of the International Financial Corporation (IFC), a member of the World Bank Group, will jointly contribute analytical work, evaluation of results, dissemination of lessons of experience from peers and dialogues with investors and governments.
"IDM 2014 will provide an opportunity for innovative and committed social enterprises from across the country, especially those in the North East, to share their work and scale up and/or replicate them for improving delivery of key services in Assam, Meghalaya and Mizoram," said Onno Ruhl, The World Bank's India Country Director.
The 2014 IDM is inviting proposals from social enterprises that epitomise the objectives of the programme; innovative organisations that offer solutions to the most pressing social, environmental, and economic problems.
The final selection of grantees will be carried out by a jury of well-known development experts. The jury will award approximately 10 social enterprises with cash grants and technical assistance services for capacity building.
