A challenge fund (CF) is a competitive finance mechanism used to allocate funds for specific purposes. CFs usually invite project proposals from companies, organisations and institutions working in a targeted field. CFs are set up to meet specific objectives and as a means of triggering investment into certain high-risk markets, such as extending financial services to poor people or finding solutions to a specific health problem in developing countries. Below some links to challenge funds, and if you like to learn more about CFs and how they work, check out this blog post here.
- Africa Enterprise Challenge Fund (AECF)
The AECF is a US$ 244m challenge fund. Funding is awarded through competitions, with applicants judged on the commercial viability, innovation, and potential development impact of their projects.
- Agriculture Fast Track Fund (AFT)
The AFT Fund is multi-donor trust fund managed by the African Development Bank. The AFT provides grant funding for the initial project development costs of a broad range of agriculture infrastructure projects.
GFDRR is a grant-funding mechanism, managed by the World Bank, that supports disaster risk management projects worldwide.
- Global Innovation Fund (GIF)
Through GIF's grants and risk capital, they support breakthrough solutions to global development challenges from social enterprises, for-profit firms, non-profit organisations, researchers, and government agencies.
- Grand Challenges
Grand Challenges is a family of initiatives fostering innovation to solve key global health and development problems
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