The MIF and the Nordic Development Fund successfully closed on Tuesday, 17 April, the first regional call for proposals of the EcoMicro program: green finance for all. The open call, aimed at selecting 4 microfinance institutions to implement EcoMicro in 2012, had an overwhelming response with 54 applications received from 15 countries of Latin America and the Caribbean. Mexico and Peru showed the highest interest, closely followed by Bolivia, Ecuador and Colombia. In the coming weeks the final candidates will be selected.
Call for Proposals
EcoMicro is a technical cooperation program aimed at training twelve microfinance institutions (MFIs) in Latin America and the Caribbean to develop "green" financial products and reduce their loan portfolio vulnerability to climate change. The Program, co-financed by the Multilateral Investment Fund (MIF) and the Nordic Development Fund (NDF) will select twelve MFIs following a regional competitive process.
To determine if your organization is vulnerable to climate change, and needs to reduce its vulnerability you should answer positively one of the following questions:
- Do changing weather patterns and more frequent heavy rains or droughts negatively affect the productive activities of your clients hence reducing their ability to repay the loans?
- Do changing climate conditions cause more blackouts and grid inefficiencies which negatively affect the daily activities of your clients?
- Is the increasing price of traditional fuels used as sources of energy affecting negatively the productive activities of your customers?
Your organization may have an interest to develop green finance products, if you think any of the following scenarios could apply:
- The increasing costs of traditional fuels and energy as well as the little reliability of the grid, open an opportunity to develop financing that will facilitate your clients’ access to affordable clean energy sources.
- You would like to design profitable financing instruments to support rural or urban clients with limited access to reliable sources of energy in their homes or businesses.
EcoMicro will help you identify the opportunities that lie behind each of these challenges and turn them into business opportunities.
To participate in EcoMicro please read the instructions for participating in the EcoMicro program before filling out the online application.
If you are eligible to participate in EcoMicro and would like to apply, please start your application online. Due to the strong interest in the EcoMicro program, we have decided to prolong the application deadline until Tuesday, April 17, 2012 at noon Washington, DC time.
On behalf of the EcoMicro Team: GOOD LUCK!