2nd call: Proposals for AfDB microfinance fund

The African Development Bank will be awarding $200,000 to $500,000, depending on the project, to six to eight successful proposals as part of its Microfinance Capacity Building Fund.

Applicants from the Economic and Monetary Union of Central Africa region are encouraged to apply for grants for projects that aim to increase transparency in the microfinance sector. Transparency is a major impediment to microfinance institutions’ capability to raise capital and gain confidence. The fund will support:

  • External audit enhancements such as training for auditors and external audit services for microfinance institutions.

  • Upgrading financial reporting in observance of local regulation and best practices, and ensuring standards in accounting activities.

  • Capacity building for supervisory personnel in the sector.

Meanwhile, applicants from the West African Economic Monetary Union and, in some cases, the Economic Community of West African States may apply for funding for projects in rural financial development including:

  • Agricultural value chain financing.

  • Branchless and electronic banking and mobile payment systems.

  • Crop or weather insurance.

  • Expansion of the credit product range to include leasing, warehouse receipts systems and others.

This is the fund’s second call for proposals, with the first made in July this year. All applicants are advised to submit proposals online before Nov. 30, 2012.

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    Adrienne Valdez

    Adrienne Valdez is a former staff writer for Devex, covering breaking international development news. Before joining Devex, Adrienne worked as a news correspondent for a public-sector modernization publication.