Development Marketplace scheme launched in M’laya, Assam, Mizoram
SHILLONG: The World Bank has announced the launch of the 2014 India Development Marketplace (call for proposals) under which organisations and self-help groups in Meghalaya, Assam and Mizoram can access funds over USD 1.5 million for implementing innovative service delivery schemes.
Announcing the proposal during a press conference here on Wednesday, Team Leader, Development Marketplace, World Bank, Drew von Glahn, said that the previous editions of IDM in Madhya Pradesh and other states have demonstrated how social enterprise, with the right kind of financial knowledge and management support, can have a profound impact in the delivery of critical services to the poor.
Development Marketplace is a competitive grants based programme that identifies and support non-profit and for profit organisations that effectively deliver crucial services to the poor.
Glahn informed that proposals for development solutions should be submitted online within March 10 on the website www.dm-india.com
The World Bank official informed that Development Marketplace 2014 will award 10 organisations with grant funding of upto USD 150,000 (Rs.94 lakh approx.) each, adding that the final selections of grantees will be done by a jury comprising of well known development experts.
Reacting to a query about the monitoring of the grants that would be provided to social enterprises, Glahn said that the organisation would have to report to the World Bank and have to spend the grants as per the set rules.
The initiative of the World Bank can be utilized by several self help groups operating in the State who have been engaged in the task of providing innovative service delivery to the poor.
