Extending financial services to larger numbers of very poor and excluded people continues to be one of the biggest challenges facing the microfinance industry. CGAP remains committed to demonstrating that the financial frontier can be deepened to reach poorer people and that services can be designed to reduce their vulnerability and increase their economic well being. The Pro-Poor Innovation Challenge (PPIC) has been a cornerstone of this agenda, funding institutions that demonstrate effective, sustainable models for deepening outreach.

CGAP is currently accepting applications for Round VIII of the PPIC. We are seeking applications from innovative MFIs that demonstrate a commitment to sustainably reaching clients excluded from mainstream microfinance because of economic, geographic, or cultural factors. While we are especially interested in applications from smaller, less well-known institutions, we are also open to larger institutions committed to launching or expanding a specific service line tailored to the very poor. The PPIC awards, of up to $50,000 each to five institutions, can be used for technical assistance and other expenses related to the specific pro-poor program.

The deadline for Round Eight applications is December 1, 2005.

To download a Microsoft Word version of the application, please visit the CGAP PPIC website. http://www.cgap.org/projects/PPIC/ppic_apps.html

Please send questions or requests for clarification to cgapppic@worldbank.org