What is the Fund
What is Mastercard Foundation Fund for Rural Prosperity?
Mastercard Foundation Fund for Rural Prosperity is a US$50 million challenge fund established by the Mastercard Foundation.
The three principles guiding the Mastercard Foundation Fund for Rural Prosperity are:
- Impact: Projects should have a positive effect on the lives of rural poor people through job creation, income generation, productivity gains and reduced vulnerability.
- Innovation: The Fund intends to harness the creativity and capacity of the financial sector and agribusinesses to innovate, increase access to and deliver financial services at scale.
- Sustainability: Projects supported under the Fund should state explicitly how they aim to achieve financial sustainability over time.
How does it work?
The Fund has had a competitive phase (2015-2017) focused on attracting and selecting applications for support, and is now in a post-competition phase (2018-2021) dedicated to monitoring and evaluating the projects that received financial support.
The Fund started by operating two calls for applications per year (an Innovation Competition and a Scaling Competition) in 2015 and 2016, and then offered more opportunities for businesses to compete for support through a combined Rolling Competition, which had three collection periods in 2017 and one in early 2018.
The Innovation Competitions focused on projects for 24 countries: Benin, Burkina Faso, Burundi, Cameroon, Côte d’Ivoire, Djibouti, DRC, Ethiopia, Ghana, Kenya, Liberia, Malawi, Mali, Madagascar, Mozambique, Niger, Rwanda, Senegal, Sierra Leone, The Gambia, Uganda, Tanzania, Togo and Zambia.
The Scaling Competitions focused on projects for 8 countries: Côte d’Ivoire, Ghana, Kenya, Mozambique, Senegal, Tanzania, Uganda and Zambia.
The Rolling Competition focused on projects (whether innovative or scalable) for 24 countries: Benin, Burkina Faso, Burundi, Cameroon, Côte d’Ivoire, Djibouti, DRC, Ethiopia, Ghana, Kenya, Liberia, Malawi, Mali, Madagascar, Mozambique, Niger, Rwanda, Senegal, Sierra Leone, The Gambia, Uganda, Tanzania, Togo and Zambia.
View the website Process page for a more detailed look at each stage of the Fund.