World Bank announces project to help bodies working for poor

The World Bank today announced a USD 1,500,000 project to support at least 10 non-profit organisations and also for-profit organisations, delivering crucial services to the poor, in Meghalaya, Assam and Mizoram.
Launching the 2014 India Development Marketplace (DM) here, team leader of the programme, Drew Von Glahn said that proposals are being sought from organisations working for the poor and having at least two years experience in their relevant fields.
"We are looking for social enterprises that epitomises the objectives of the program and innovative organisations that offer solutions for delivery of crucial services. Each of the 10 organisations will be awarded with grant funding up to Rs 94 lakh each," Glahn said.

According to the program head, each of the project would be awarded to organisations that identify solutions that have a clear social impact and show the potential to be scaled,
replicated or mainstreamed with support from investors and corporate social responsibility programme, amongst others.
The funding would cover a period of two years and the World Bank would constantly monitor and support use of the fund during the period.

"This programme is more of an equity investment than a grant and we expect knowledge and social base returns," the official said.
"The grantees will be supported through a tailored capacity development program delivered with the local partners, investors and governments," he said.

Earlier, the DM has funded projects worth over USD 3 million to 34 organisations such as those that provide medical services on boats in the flood affected areas of Assam and also a cost effective micro credit firm for rural entrepreneurs in Madhya Pradesh.
The final date to submit the proposal on line is March 10 before which information sessions would be held in Kolkata, Guwahati and Shillong.