The UNCDF SHIFT Challenge Fund – 3rd Window: titled “Mekong Focus: Linking remittances as a catalyst for financial inclusion and women’s economic empowerment”, is now open. UNCDF SHIFT is inviting service providers with international remittance business models to submit Expression of Interest. Funding is available to new or scalable remittance services that align with our goal of improving formal remittance services as a way to enhance women’s economic empowerment.
Please see link attached: SHIFT Challenge Fund Facility Opens Third Window: Remittances
The goal of the Challenge Fund is to develop innovative business models that foster formal, international remittances to CLMV for women, and concurrently increase adoption and usage of remittance-linked financial products and services. A lack of formal remittances channels for women in CLMV limits their access to other formal financial services. This is an issue as women are the majority recipients of international remittances through informal channels in CLMV. The intervention of the Challenge Fund presents an opportunity to:
- Improve women’s financial inclusion via remittance services
- Tap potential informal markets
- Expand last mile access
- Increase the number and diversity of financial service providers
Details of the Challenge Fund (including applications) are available at: www.shift.uncdf.org
The UNCDF SHIFT will be hosting information workshops in the Mekong region and Singapore to present the Challenge Fund 3rd window opportunity and to clarify questions regarding the EOI process. Keep an eye on the website calendar.