Somali Business Catalytic Fund, Business Matching Grants Program – Round 2(a): Supporting the Private Sector to Create Greater Resilience in Response to Climate Change.
Request for Concept Notes
Development Alternatives Inc. (DAI) is managing the World Bank funded Somali Business Catalytic Fund (SBCF) program across the Somali peninsula. The principal aim of the fund is to catalyze Somali entrepreneurship into profitable businesses which provide long-term benefits to the economy and boost economic growth by raising employment and productivity through funding fixed investment and business/technical services, and by stimulating financial institutions to expand finance for businesses.
The focus of this phase of assistance will be on projects that increase capacity of businesses to provide goods and services which create more resilience to climate change. The SBCF invites local companies from Somaliland to submit Concept Notes for project funding.
Those applicants who are verified as eligible and score above 80 points out of 100 will be invited to submit Full Business Plan Proposals in December. SBCF expects to fund upto 10 firms in Somaliland under this targeted round. PLEASE NOTE. Based on the results of our first round of grant funding, our rigorous evaluation process, and the remaining budget, only a small proportion (about 10%) of applicants will receive grants. These will be awarded in order of evaluation score and due diligence scores.