This RFA is for on-boarding partners that would engage with UNCDF and the Financial Innovation Lab (FinLab). UNCDF will support partners across different rounds spread over the year based on availability of funding, by supplementing their project teams with experts who have the know-how in building solutions linked to financial health.
UNCDF can provide technical assistance, mentorship support, enabler engagement, market access support ad grants/capital support on case to case basis to the selected partners. The advisory support would be provided by experts that are experienced in product, business model development, behavioral science, go-to-market strategies, etc. in some of the most challenging markets in Asia and Africa. UNCDF plans to invest half a million USD on this initiative, specific projects will be financed based on business needs and funding allocation for different markets. An average intervention may range from 50,000 to 250,000 USD
UNDF invites banks, financial intermediaries, microfinance institutions, insurance companies technology companies and other firms registered anywhere across the globe to apply and those willing to enter or already on ground in one of the above markets with a solution that is focused on driving financial health of any low and moderate income segment (includes small business).
The RFA will have the following rounds of submission:
|Round||Deadline for submitting proposals|
|1||May 30, 2020. 23:59 GMT|
|2||August 30, 2020. 23:59 GMT|
|3||November 30, 2020. 23:59 GMT|
Three rounds of submission and selection will be applied. Submissions that have not been selected in previous rounds may be selected in subsequent rounds, depending on the quality and quantity of the overall submissions received during these 3 rounds. For example: a submission received in round 1 that is technically compliant and passes the technical evaluation may be granted support during rounds 2 or 3.