Tackling rural poverty, together

Extract

The Business-Focussed Challenge Funds for private sector initiatives has the following objectives: (1) Set up a cost-sharing grant scheme with competitive bidding, grants being allocated to profit-seeking projects that best meet the challenge funds criteria and objectives. (2) Business-Linkage Challenge Funds support the formation of business linkages by enterprises in developing countries with each other and/or with international partners. These linkages must bring enhanced competitiveness and generate clear benefits for the poor. Projects must  increase access to markets, transfer technology, improve competitiveness, or address the policy and regulatory environment for business. (3) Financial Deepening Challenge Funds encourage banks and other private firms to develop innovative and commercially viable financial services that benefit the poor. Eight out of 26 Business-Linkage Challenge Fund  projects are linked to agriculture.