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World Bank Group Launches 2014 Development Marketplace in India

13/02/2014 15:29 (61 Day 13:08 minutes ago)

The FINANCIAL -- The World Bank Group launched the 2014 India Development Marketplace (DM) call for proposals so that organizations in India can access overall funding of over $1 million for implementing innovative service delivery approaches in the Northeastern states of Assam, Mizoram, and Meghalaya, according to the World Bank Group.

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The DM is a competitive grant-based program that identifies and supports nonprofit and for-profit organizations that effectively deliver crucial services to the poor. The DM also analyzes effective practices of these enterprises in order to expand innovative solutions in getting crucial services to poor populations.

Following the success of the 2013 India Development Marketplace, the 2014 competition focuses on enterprises that target the Northeastern states of Assam, Mizoram, and Meghalaya. In 2014, the Development Marketplace will award approximately 10 organizations with grant funding up to $150,000 (INR ₹94 lakhs). In addition to the financial resources, the grantees will be supported through a tailored capacity development program delivered with the local partners. Jointly with the South Asia Inclusive Business Models Group of the International Financial Corporation (IFC), a member of the World Bank Group, the DM will contribute analytical work, evaluation of results, dissemination of lessons of experience from peers, and dialogues with investors and governments, according to the World Bank Group.

 

The 2014 India Development Marketplace is inviting proposals from social enterprises that epitomize the objectives of the program; innovative organizations 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. The specific details on eligibility and selection criteria are available on the 2014 India Development Marketplace website. The final date to submit proposals is March 10, 2014.

 

In the last decade, the India Development Marketplace has recognized and supported a range of highly effective social enterprises. For example, 2013 India Development Marketplace grantee organizations include Alternative for India Development (AID) that fosters financial literacy and inclusiveness for rural women; Real Medicine Foundation that mobilizes communities to increase awareness of severe and moderate acute malnutrition and their causes, and provide access to public treatment services; and WaterLife India (WLI) that establishes community water systems in rural areas to provide safe drinking water at an affordable price. Over the past three years, the Development Marketplace has granted more than US$3 million to 34 projects, according to the World Bank Group.

 

 

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