Global lender seeks best ideas for renewables
WASHINGTON, DC, US, 2004-12-15 Refocus Weekly
The World Bank will provide US$3 million for innovative ideas in the area of renewable energy.
‘Development Marketplace 2005' will provide a maximum of $150,000 for each
proposal that is “a brilliant but unusual idea that may not get funded through
traditional venues.” The competition is open to private companies, foundations
or organizations that provide “innovative, local projects that provide unique
solutions to environmental challenges.”
The top category is renewable energy and energy efficiency at the community
level, but funding is also available for innovative application of clean
technologies in small enterprises, biodiversity conservation, environmental
education and awareness, protecting environmental health and sustainable use of
natural resources.
“We all must do a better job of protecting our planet's fragile
environment,” says World Bank president James Wolfensohn. “Despite progress
in some areas, the way we have abused the earth is alarming. Responsible
management of natural resources is essential to reduce poverty, especially among
marginalized groups who depend on the earth for their livelihoods.”
The marketplace “reflects the World Bank's determination to support local
ideas that improve the lives of poor people while minimizing environmental
degradation,” with emphasis on the word innovation. It allows the World Bank,
in partnership with the Global Environment Facility and MacArthur Foundation, to
“give seed money to turn creative ideas into viable projects.”
"Most of the World Bank's environment investments and technical assistance
are larger, government- driven programs that are very important for natural
resource management," explains Warren Evans. DM projects are smaller and
direct, and do not go through the World Bank bureaucracy or government
bureaucracy of individual countries.
The Development Marketplace started in 1998 as an internal competition to fund
innovative ideas that were not picked up through conventional funding systems,
and has evolved into a global event that has awarded $25 million for 500
projects over the last six years. In 2003, there were 2,700 proposals of which
42 received awards and, in 2005, the World Bank Group expects to select 20 to 30
winners by an international jury.
Proposals must be submitted in partnership with another organization, and
private sector proposals must include a non-profit partner. Proposals will be
accepted until January 21, with winners to be announced after World Environment
Day on June 6 in Washington.
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