The Arab Financial Inclusion Innovation Prize (AFIIP) is back to scout and support the most innovative solutions that can make financial services more accessible and affordable for the low-income and Micro, Small, and Medium-sized Enterprises (MSMEs) in the Arab world. Applications are open till June 25, 2021.
AFIIP is offering prizes of up to $60,000 USD in cash and technical support to ideas, products and services that can improve financial inclusion in the region.
Since 2018, the Arab Financial Inclusion Innovation Prize has identified over 200 innovators in the region. AFIIP has supported solutions span the financial services sector, from start-ups to incumbent institutions, operating in microfinance, digital payments, financial literacy, digital identity, and beyond. AFIIP provides winners with multiyear technical support and gives them access to a global network of thought leaders and investors to help take their ideas to the next level. Applications are judged on their impact, feasibility and marketability by a panel of world-class experts.
This year, AFIIP is also providing additional resources to innovations that can generate green outcomes. There is a second stream to the prize looking for financial solutions that can help mitigate the risks of climate change, increase environmental resilience for the low-income and MSMEs, provide sustainable opportunities to the underserved and enhance the green finance ecosystem of the Arab world.
The call for applications is now open, with the support of SANAD Technical Assistance Facility, FSD Africa funded by UK Aid from the UK government and Spectrum Digital Holdings.