Citi Foundation, the charitable arm of US-based financial services provider Citigroup that provides grants for small and growing businesses, in partnership with Access Development Services, an Indian nonprofit consultant to microfinance institutions (MFIs), has opened applications for the 10th annual Citi Micro Enterprise Awards, which aim to recognize and honor microenterprises in India that have generated employment and reduced poverty in their communities [1]. Enterprises can be nominated for the awards by MFIs, banks, NGOs, organizations and individuals, or they can apply themselves.
The 2013 Awards are divided into six categories: Community Micro Enterprise of the Year, Best Rural Community Micro Enterprise, Best Urban Community Micro Enterprise, Innovative Community Enterprise of the Year and Innovative Livelihoods Enterprise Promoter of the Year. The winners of each of these categories will receive a one week management development workshop designed by Citi Foundation, which will aim to further sharpen the business, marketing and management skills of the enterprises.
The last date for submission of applications is September 10, 2013. The winners will be selected after a four-stage selection process that is carried out by a governing council composed of experts from different sectors of community based enterprises. The date of the award ceremony has not yet been released.
By Meghan Gillis, Research Associate
About Citi Foundation
Citi Foundation is the charitable arm of US-based financial services provider Citigroup. The Citi Foundation provides grants and guarantees focusing on the areas of microfinance, small and growing businesses, education, asset building and neighborhood revitalization. The foundation’s annual giving was USD 78 million in 2012.
About Access Development Services
Access Development Service is an Indian nonprofit consultant to microfinance institutions (MFIs). It offers capacity building and technical services on topics such as operating structure, portfolio management and financial management. It also works to facilitate funding to 130 member MFIs through the Access Microfinance Alliance (AmFA). It also organizes the annual Microfinance India Summit. Access Development Services was founded in 2006. Access Development Services does not report to the US-based nonprofit Microfinance Information Exchange (MIX) and financial information for the company is unavailable.
Sources and Additional Resources
[1] Citi Micro Enterprise Awards: “Citi Micro Enterprise Awards 2013,” http://www.cmea.in/cmea_2012.html
MicroCapital brief, June 12, 2013, “MICROCAPITAL BRIEF: Bank for Agriculture and Agricultural Cooperatives, Habitat for Humanity Thailand, Citi Foundation Launch ‘Microsavings Program for Home Improvement’,” https://www.microcapital.org/microcapital-brief-bank-for-agriculture-and-agricultural-co-operatives-habitat-for-humanity-thailand-citi-foundation-launch-microsavings-program-for-home-improvement/
MicroCapital brief, September 12, 2012, “MICROCAPITAL BRIEF: Citi Foundation Grants $180k to Parinaam Foundation of India to Provide Financial Literacy Training to Clients of Microfinance Institutions Ujjivan,” https://www.microcapital.org/microcapital-brief-citi-foundation-grants-180k-to-parinaam-foundation-of-india-to-provide-financial-literacy-training-to-clients-of-microfinance-institution-ujjivan/
MicroCapital Universe Profile: Citi Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Citi+Foundation#Description_140_word_limit_
MicroCapital Universe Profile: Access Development Services
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=ACCESS+Development+Services
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