Access to finance for SMEs, Business Partnership Facility: closing date for applications 12 February
Lacking access to finance or facing prohibitive conditions is an obstacle to the development of very small and small/medium enterprises (VSEs and SMEs), particularly in ACP countries. Through its FIT FOR MARKET (FFM) programme, COLEACP is engaged in a process based on matching demand (VSEs and SMEs) with supply (financial institutions adapted to SME projects); and on preparing VSEs and SMEs to formulate and find solutions to their financial needs .
Launched by the Belgian Directorate-General for Development Cooperation (DGD) and the King Baudouin Foundation, the new Business Partnership Facility is designed to support private company projects that meet at least one of the Sustainable Development Goals set by the United Nations. Both the social impact of the investment project and its economic viability will therefore be key criteria in the selection of projects. The amount of the grant for selected projects will be between €50,000 and €200,000, and may be up to 50% of the total amount of the investment. This means that the company will have to finance the rest (in cash). An annual budget of approximately €2 million (€11.5 million over five years) is available. There are two calls for proposals per year.