Deadline: 29-Jul-21
UNCDF is requesting for proposals for “Supporting Financial Innovations in Guinea-Bissau to Improve Financial Inclusion” to facilitate access to public and private capital for the poorest populations in the world’s 46 least developed countries.
To participate in empowering marginalized populations in Guinea-Bissau and reducing poverty, UNCDF launches this call for projects to identify two partners capable of improving financial inclusion in the country.
These two partners will aim to offer innovative financial services to improve equitable access to the financial system for the most vulnerable groups; SMEs, women and youth. These products must be tailored to the needs of the target customers and be accessible to as many products as possible.
Financing Models
UNCDF is based on three financing models:
- inclusive digital economies, which link individuals, families and small businesses to financial ecosystems that catalyze participation in the local economy and provide tools to overcome poverty and manage financial lives;
- financing for local development, which allows municipalities to drive local economic expansion and sustainable development through fiscal decentralization, innovative municipal financing and structured project financing; and
- investment finance, which provides catalytic financial structuring, risk reduction and investment deployment to foster the impact of the Sustainable Development Goals (SDGs) and resource mobilization at the national level.
Axis
- For Axis 1, UNCDF intends to support a financial services provider (PSF) already well established in the country to develop a new digital product adapted (account, savings, credit) to the needs of marginalized populations. This product must be affordable and accessible to young people, women and entrepreneurs.
- For Axis 2, UNCDF intends to support Fintech in the expansion of one of its innovative and high-impact digital solutions throughout the country. This solution must already be available and offer opportunities for economic empowerment for a large part of the population, in particular women, young people and SMEs.
Funding Information
- UNCDF contributions can range from USD 75,000 (for Axis 2) to USD 150,000 (for Axis 1), depending on the level of investment readiness and expansion potential of the proposed solution.
Eligibility Criteria
- The financial service provider (Axis 1) must already be established in the country and have 3 years of experience, if possible, with the same objectives as the project.
- Fintech (Axis 2) must have 3 years of experience and have a solution that can be quickly expanded in Guinea-Bissau. Service providers established outside the country may apply if they demonstrate a willingness and an established plan of their ability to quickly establish themselves in Guinea-Bissau and a knowledge of the context.
For more information, visit https://bit.ly/3yGnGOQ