World Bank: Som-Prep II
Somalilandsun – The SBF is intending to offer a second Call for Proposals for Grant Funding from June 21 to August 10, 2013.
During this outreach period, there will be multiple training sessions offered by the SBF throughout Somaliland to explain how our application and selection process works.
The communities will include Hargeisa, Borama, Burao, Berbera, Las Anod, Erigavo, Gabiley and Wajale.
In advance of Round No. 2, we will also be arranging information sessions for the Diaspora in theUK (Cardiff, London and Birmingham) and in Dubai from May 6-12, and in the USA (Minneapolis and Columbus) and Canada (Toronto and Ottawa) around mid-June.
SBF REACHES OUT TO DIASPORA IN N. AMERICA:
About the Fund
—The $3.6 million Somaliland Business Fund (SBF) offers grants to the Somaliland private sector ranging from $5,000 to $150,000 for projects involving business development services and/or fixed assets. —Grants below $50,000 are considered small and processed in 2 months (following outreach phase) whereas large grants will be processed in 4-5 months. —Small grants are ‘matching’ i.e. 50:50 co-financing whereas the applicant contribution is reduced to 33% for 1st time applications. —Grants for large projects will be up to 50% i.e. determined on the basis of risks and returns – in this way we can get a higher leverage on the overall grant funds. For more information visit http://somalilandbusinessfund.com/
Before you prepare and submit your application, make sure that you (the applicant) and your project meets all of the eligibility criteria listed HERE
We also assess the quality of the applicant and the quality of the business idea, as described in your Concept Note thus meets these assessment Criteria
HOW SBF WORKS
SBF is an open and competitive grant scheme i.e. open to all sectors and regions, and applicants must compete for a limited grant allocation during each round. HOW SBF WORKS
THE FUNDING PROCESS
During the month-long outreach period, the business community will be made aware of the grant scheme and challenged to develop innovative and commercially viable. FUNDING PROCESS
Full applications are screened by an expert pool of sector, environmental and social specialists, as well as by a Grants Advisory Panel, with grant recommendations made to the World Bank for consideration. EXTERNAL SCRUTINY