Coffey International bares availability of Aussie funds
The Coffey International Development has announced the availability of Australian-government funded grants to aid developing business ideas that are geared toward improving livelihood, income, and access to vital goods and services.
The aid which is available through the Enterprise Challenge Fund (ECF), managed by the Coffey International Development provides grants ranging from P3.8 million to P57 million, that are available through an open competition, said ECF country manager-Philippines Jason C. Magnaye.
In a statement, Magnaye said that private sector in the
The ECF, an Australian Government, AusAID-funded initiative, is an innovative means of sharing risk with business to achieve pro-poor growth.
Businesses are provided with grants to commercialise sound business ideas that also have a positive impact on poverty reduction.
The fund helps develop commercially successful ventures that otherwise would not get the chance to go to market. By providing up to half of the project’s funds, it shares the project’s costs and some of the risk.
Magnaye said that grants ranging from P3.8-million to P57-million ($A100, 000 to $A1.5 million) are available through an open competition. Several bidding rounds occur in each country.
Assessment panels, which are primarily made up of private sector representatives, select the winning proposals.
To be awarded a grant, businesses complete a two stage application process. Stage one is the submission of a brief concept note which is reviewed by a panel.
Business projects that best satisfy the assessment criteria will be invited to submit a full application and the best applications are awarded a grant after further assessment by a panel.
Initially covering only the
Aside from the
- Latest
- Trending
