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IDB Announces Energy Innovation Contest

IDB Announces Energy Innovation Contest

27 February 2009: The Inter-American Development Bank (IDB) has announced a contest to finance proposals for promoting energy efficiency and access to renewable energy in Latin America and the Caribbean.

The contest will award up to US$200,000 for projects that propose novel solutions to the region's energy shortages, particularly in rural and low-income areas. The contest is funded by the IDB, GVEP International, GTZ and the Government of the Republic of Korea. It will award between US$4-6 million over the next three years.

The criteria for evaluation include degree of innovation, developmental impact (economic, social, and environmental), scalability, replicability, financial sustainability, institutional capability and the quality of the proposal, implementation strategy and projected risks. Proposals must be submitted by 15 May 2009, and the winners will be announced in August. [IDB Press Release]