The International Finance Corporation (IFC), the private sector financing arm of the World Bank Group, is launching a call for proposals to design a debt or equity fund to tackle the challenge of climate change and its disproportionate impact on women and marginalised communities. This is part of the IFC Impact Investing Challenge 2024. Only students from IFC member countries are invited to apply, no later than 15 April 2024.
The 2024 edition of the IFC Impact Investing Challenge was launched on 19 March 2024. This year, applicants – mainly graduate students from member countries of the International Finance Corporation (IFC) – are invited to submit innovative proposals for the design of a debt or equity fund that will tackle the challenge of climate change and its disproportionate impact on women and marginalised communities.
Although women are the most vulnerable to climate change in the world, particularly in Africa, they are not always taken into account in climate resilience policies. The IFC, the private sector financing arm of the World Bank Group, wants to help reduce these disparities by harnessing the potential of green economies to empower women in developing countries.
Exclusive investment training on offer
Applications, either individually or in teams of three, will close on the evening of 15 April 2024, while the results will be announced in June.
The students or teams whose projects are selected will benefit from a number of opportunities. Firstly, they will be immersed in the world of impact investing, guided by the expertise of the IFC, where they will gain practical experience. Their ideas will be presented on the international stage with the possibility of making a tangible difference in developing countries. They will also benefit from exclusive access to investment and impact management masterclasses delivered by IFC professionals, as well as training on writing investment proposals and making effective business cases. “Finalists will have the opportunity to travel to Washington DC. to present their ideas to the IFC’s senior management team, and to participate in an exclusive networking event with the international financial institution’s management,” reads the IFC’s call for applications.
In addition, the winners will be entitled to a two-month paid scholarship for immersion in the IFC’s investment teams, particularly on real operations “to bring innovative ideas to life”. They will also receive the prestigious title of IFC Impact Investing Laureate, and will be able to participate in the dialogue by using the phrase #IFCImpactChallenge2024 on their favourite social media platforms. More than 150 teams representing the world’s top institutions have participated in previous editions of the challenge. These editions have focused on topics such as “Just and Green Recovery” and “MSME Financing”, among others.
For more information on the IFC’s call for applications, click here.
Inès Magoum
