CARIB-CAP: WHO IS ELIGIBLE
A MFI is eligible to participate, if:
- It can demonstrate at least one year of operations;
- A NGO, must demonstrate that the microfinance portfolio represents at least 50% of the total portfolio;
- A Co-operative Credit Union (CCCU), must demonstrate that it has a microenterprise/microfinance project within the CCU, with at least 500 clients and that it can separate the microfinance portfolio from the main CCU portfolio for analysis;
- It can provide audited financial statements, or a clear commitment from the Boards of beneficiary MFIs to external auditing beginning in the current fiscal year;
- It has a portfolio of at least US$400,000, net of government or other type of donor tied resources; It is willing to share information about its performance, specifically, the MFI should commit to send its information to the Market Exchange (MIX);
- It demonstrates a willingness to commit to an ex-post evaluation;
- The microfinance/microcredit project is financially and operatively independent from other activities the institution might have; and
- The MFI can provide counterpart of at least 10% of the cost of the performance assessment and the
CBP in cash. In addition, if the organisation is a recipient of other projects from the IDB group:
- The MFI should not be in arrears and should be in compliance with all aspects of agreements for projects in execution;
- The grant for technical cooperation should be oriented to activities complementary to those already financed.
