African Development Bank launches microfinance fund, calls for proposals from Ghana, others

The African Development Bank (AfDB), in partnership with the Government of Spain has launched the Microfinance Capacity Building Fund (MCBF) for Africa which will provide technical assistance to microfinance companies.

The AfDB says, the MCBF which was launched on July 19, 2011, will help increase transparency within the microfinance sector and deepen outreach to rural areas.

The Bank is therefore calling for proposals from countries such a Ghana, Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and other countries within the West African Economic Monetary Union and ECOWAS.

“The fund will provide awards through three separate Calls for Proposals, occurring annually over the course of 2011 – 2013.  Each call will focus on a specific area(s) of intervention and a specific set(s) of African countries,” the AfDB noted.

The timelines for the MCBF project are as follows:

• July 19, 2011: First Call for Proposals opens

• September 19, 2011: Deadline to submit proposals for first phase

• October 2011: Grantees notified

• November 2011: Funds disbursed

• May 2012: Launch of Second Call for Proposals

• May 2013: Launch of Third Call for Proposals

The award amounts will range from approximately €200,000 to €500,000 per project, depending on the activity, and will be given to a total of approximately eight to 10 awardees.

By Ekow Quandzie