United Nations Capital Development Fund (UNCDF) held two virtual information sharing sessions on the Request for Applications (RFA) on “Digital Finance for Women Entrepreneurs - Innovation Fund Papua New Guinea” for their recently launched and implemented Innovation Fund on Wednesday, 30^th March, and April, 06^th March 2022.

The Innovation Fund is targeted to offer support in tackling the economic impacts on the formal and informal economy in the country. It is aimed to strengthen the Government of Papua New Guinea (GoPNG)’s ongoing efforts in achieving broader macroeconomic targets in the National SME Policy and National Financial Inclusion Strategy.

Invitation has gone out to applicants that ran businesses in PNG to increase access to Digital Financial Services (DFS), delivery channels and business model innovation for Women led Micro, Small and Medium Enterprises (MSMEs) and women entrepreneurs in informal sector across the four regions – Southern Region (focusing on Port Moresby), Momase (focusing on Lae), Islands region (focusing on Arawa/Bougainville) and the Highlands region (province of focus will be announced).

The applicants can be financial institutions (e.g., banks, microfinance institutions, savings, and loan societies), mobile network providers, non-bank financial service providers and Fintechs who can pick one or more of above-mentioned locations for their interventions.

The Fund will support applicants that had existing and innovative solutions to run projects within the country and change the business resilience for Women led MSMEs and women entrepreneurs in formal and informal sector (e.g., trading, agri-business, textile, food, and beverage) to increase access and uses of digital financial services against the economic recession caused by COVID-19.

The Fund will also increase delivery channels and business model innovation through partnering with financial service providers who have digital financial services to bridge the “unbankable” gap for the women led MSMEs and women entrepreneurs.

Applications for this fund will close on the 12^th of April 2022. Please contact Ms. Lorraine Basse on email: lorraine.basse@uncdf.org for more details.