India Innovations Grant Programme 2015 Lunched for NGOs by Citi Foundation
The Citi Foundation has launched its 2015 India Innovation Grant Program and invites Expression of Interest (EOI) from registered NGOs with a minimum three year track record for availing grants for implementing innovative financial inclusion programs. A total of up to INR 125 million has been allocated for NGOs by Citi Foundation to encourage and accelerate innovative financial education and capability programs that expand financial inclusion for low-income populations.
This is the second such Grant Program launched by Citi Foundation. According to Citi India Head of Corporate Affairs Debasis Ghosh, “The launch of the 2015 India Innovation Grant Program underscores the success of the inaugural initiative, which brought forth innovative and scalable financial inclusion programs that support India’s agenda of inclusive growth”.
The Grant Program is in line with the government’s agenda to create opportunities to inculcate a habit of savings and demonstrates Citi’s commitment to helping strengthen India’s social security framework. Of particular interest are programs that:
- Use technology and innovative approaches to expand delivery and lower the costs of serving more low income people
- Integrate the delivery of financial education into other social systems such as education and healthcare
- Improve access to finance with integrated financial capability services
- Prepare young people for and connect them to economic opportunities
- Focus on urban low-income population
- Promote scale and thought leadership
- Produce positive, measurable financial behavior change and the accumulation and preservation of financial assets for low-income populations
Registered not-for-profit entities (Society, Trust, Section 25/8 Company) who are registered with the Ministry of Home Affairs under the FCRA regulation and have been working for at least three years in India are eligible to apply for this Grant Program.
Applicants must submit their EOIs online at this link. Shortlisted applicants will be notified and requested to
submit full proposals. Applicants will be informed individually and invited to a formal event in Q3 2015.
The last date for submitting the EOI is July 31, 2015. Further information is available on the Citi Bank’s website.
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