Citi accepting submissions for Caribbean micro-entrepreneurship awards

Tuesday, August 06, 2013

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CITI Foundation in partnership with the Caribbean MicroFinance Alliance (CMFA) is now accepting submissions from outstanding micro-entrepreneurs and institutions for the 2013 Citi Micro-entrepreneurship Awards for the Caribbean.

The objectives of the entrepreneurs and institutions should be raising awareness about microfinance in the Caribbean, building consciousness on the role micro-entrepreneurs play in their local economies, and developing the next generation of microfinance institutions. Candidates have until Wednesday, August 7, 2013 to submit their nominations, the awards organisers announced this week.

The Citi Micro-entrepreneurship Awards for the Caribbean recognise microfinance institutions and micro-entrepreneurs that have demonstrated remarkable success in the Caribbean, and this year, three awards will be presented: Excellence in Microfinance Transparency in the Caribbean (US$5,000); Excellence in Microfinance Product Innovation in the Caribbean (US$5,000); and Excellence in Micro-entrepreneurship in Suriname (US$3,000). Awardees will also receive a plaque and short video on their microenterprise or microfinance institution, and will attend the Caribbean Microfinance Forum Gala Ceremony.

Dennis Evans, Citi cluster head for the Caribbean said, "Citi is proud to be working on this initiative for the second year in a row, it is part of our commitment to the economic empowerment and financial inclusion of the communities where we are present. Strengthening the network of microfinance institutions and micro-entrepreneurs in the Caribbean is important for the development of the local economies."

Eligible microfinance nominees for the Citi Micro-entrepreneurship Awards for the Caribbean must meet the following criteria: have a minimum of 40 microfinance clients; be in operation in a beneficiary member country of the Inter-American Development Bank in the English-speaking Caribbean for a minimum of three years; be able to provide audited financial statements; be registered on the MIX market; and be a good standing member of the CMFA.

"The CMFA is quite pleased to have received the support of Citi Foundation to implement the awards again this year. This activity is integral to the CMFA's efforts to highlight and strengthen the Caribbean microfinance industry," said Ramesh Persaud, CMFA-chairman.

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