Shillong, Feb 19: Targeting to uplift North East India, the World Bank launched its 2014 India Development Marketplace for implementing innovative service delivery in Meghalaya, Mizoram and Assam.
Under this, the World Bank pledges US $ 1 million in grants to be awarded to 10 social enterprises.
This is a major intervention to boost the social business. Following the success of the 2013 India Development Marketplace, the 2014 competition focuses on enterprises in these three states.
In 2014, the Development Marketplace will award approximately 10 organizations with grant funding up to $150,000 (INR ₹94 lakhs).
Drew Von Glahn, World Bank’s development marketplace team leader, said, “It will provide an opportunity for social enterprises from across the country to share their work and scale up for improving last-mile delivery of key services and products.”
Jointly with the South Asia Inclusive Business Models Group of the International Financial Corporation (IFC), a member of the World Bank Group, the Development Marketplace 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.
“In addition to the financial resources, the grantees will be supported through a tailored capacity development programme delivered with the local partners jointly with the South Asia Inclusive Business Models Group of the International Financial Corporation, a member of the World Bank Group,” he said.
It identifies and supports non-profit and for-profit organisations that effectively deliver crucial services to the poor.
“The Development Marketplace also analyses effective practices of these enterprises in order to expand innovative solutions in getting crucial services to poor population,” Glahn said.
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.
On 27 and 28 February, the World Bank will hold an information session at Asian confluence Shillong for the interested enterprises where they can seek necessary information.
Interacting with media in Shillong, Glahn said the India Development Marketplace would also rope in the development experts for selecting social enterprises that can deliver basic services that the people of the region need the most.
“The services include those that facilitate access to basic ones like health, nutrition, education, water, sanitation, housing and energy, financial services, transportation and information and communication technology,” he said.
In the last decade, the India Development Marketplace has recognized and supported a range of highly effective social enterprises.
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.(SP News)
