Multilateral banks launch technological program for inclusion

- Wednesday, May 4, 2011

Multilateral banks launch technological program for inclusion

The Inter-American Development Bank (IDB), the Multilateral Investment Fund (MIF), the Andean Development Corporation (CAF) and the GSM Association (GSMA) have made a call for the presentation of project ideas for implementing IT solutions to increase financial inclusion among low-income populations in Latin America and the Caribbean, CAF reported.

Winning ideas will receive up to US$300,000 in funding. Projects may include providing financial services to underserved areas via non-banking entities or via mobile banking, offering new services or expanding existing ones such as payments or money transfers for low-income individuals, reducing client's costs, or improving risk management and internal controls.

Private companies, IT service providers, NGOs, cooperatives, financial institutions and banks will be able to participate.

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The submission deadline is July 15.

Follow this link for more information.