Egypt’s Development Marketplace 2012 with the World Bank
The World Bank Group and the International Financial Corporation (IFC).
Funding partners – The Sawiris Foundation for Social Development, the AlKorra Foundation for Sustainable Development (Egypt), the Australian Government Overseas Aid Program (AusAID), Canadian International Development Agency (CIDA), the Department for International Development for the United Kingdom of Great Britain and Northern Ireland (DFID), the International Labour Organization (ILO), the Ministry of Foreign Affairs of Denmark, the Ministry of Foreign Affairs of Finland, and the Swiss State Secretariat for Economic Affairs (SECO).
a) Agriculture – Sekem, UN Pro-poor Horticulture Value Chains in Upper Egypt, Center for Development Services, Agricultural and natural resources program, CARE Egypt, and Minia Cooperative.
b) Handicrafts – Fair Trade Egypt, CIDA BDSSP, CEOSS, and World Bank experts in relevant fields such as agriculture and rural development.
Social Entrepreneurship Intermediary Support Organizations – Ashoka, Nahdet El Mahrousa, Sanabel, Synergos, Schwab foundation for social entrepreneurship, CID (Schwab fellow).
Impact Investors – Those would include the impact investors operating in the region including Willow Tree Impact Investors (Nadine Kettaneh).
Corporate Sector – This would include leading and credible Egyptian corporate sector partners such as TechnoGreen and PICO, Delta Aromatic, Innoventures, Microsoft and Sobh for Food Industries and Coldstore. as well as MNCs such as Danone, Heinz and Nestle.
Government Officials – the Egyptian Ministry of Agriculture among other potential government entities. However, given the current lack of stability of the Egyptian government, the exact entity and names will be determined in the coming few months.
Youth Representatives – 3 youth representatives will be invited to join the jury. Those would all ideally be credible public figures. Diversity in terms of gender, ideology and other aspects will be ensured.
Upper Egypt Governorates.
21 months, from November 2012 till July 2014.
250, 000 USD (project total budget: 1,875,000 USD).
The Egypt Development Marketplace aims to contribute to rural development and job creation for young rural men and women in Egypt and to contribute to strengthening the eco-system of social entrepreneurship and impact investment in Egypt.
The project will help create about 200 jobs for young rural Egyptian men and women through providing and technical support to existing social enterprises to help them scale-up their impact, strengthen their institutional capacity and create more jobs.
The Sawiris Foundation has joined the World Bank's Development Marketplace 2012 which will award a number of grants and provide technical support to organizations with a demonstrated potential of creating jobs in the agricultural sector.
The World Bank and its partners launched the Egypt Development Marketplace national competition on November 8. This World Bank and partners will commit $ 1,875,000 million to improving the lives of people in rural Egypt.
The Development Marketplace (DM) encourages applications for funding from private companies and civil society organizations with a clear social mission. Applications go through rigorous, merit-based scrutiny by panels of development experts from inside and outside the World Bank. Each DM has a separate theme, with the latest one in Egypt focused on organizations working on food processing and handicrafts.
With the aim of creating at least 200 jobs, the Egypt DM will focus on two main activities; namely providing financial and technical support to existing social enterprises to help them scale-up their impact, strengthen their institutional capacity and create more jobs.
A series of seminars will be held in four governorates in Upper Egypt, Assuit, Qena, Aswan and Menia, to reach out to businesses and civil society organizations and encourage broad-based participation in the competition. The social enterprises will benefit from technical support from a number of high performing organizations, as well as corporate-sector partners.
The DM program, housed in the World Bank and administered by the World Bank Institute, and funded by various partners has, since its inception in 1998, awarded more than US$60 million grants to more than 1,200 innovative projects identified through country, regional, and global DM competitions.