New Ideas, New Projects 

A new co-financing opportunity for geotourism and sustainable tourism projects in Latin America and the Caribbean from the MIF Sustainable Tourism Cluster.

Do you or your institution in a Latin American or Caribbean country have an innovative idea for a sustainable tourism project at the local, national or regional level? If so, you may be interested in a co-financing opportunity offered by the Multilateral Investment Fund (MIF) (www.iadb.org/mif - should imbed links in the words “MIF” and “IDB” so they are not visible in the text) of the Inter-American Development Bank (IDB) through the Geotourism Challenge 2009.

MIF, through its Sustainable Tourism Cluster (STC), has signed partnership agreements with National Geographic and Ashoka Changemakers aiming to promote and support geotourism initiatives that benefit local communities by improving the competitiveness, social use and sustainability of tourism in Latin America and the Caribbean.

MIF’s STC is looking to co-finance projects that are in the identification and/or design phase, proposed by institutions capable of financing at least half of the project cost. Each project to be financed by the STC should generate the expected results, as well as useful experiences and innovative tools that can be applied in other contexts and replicated at the regional level.  

What does the MIF Sustainable Tourism Cluster (STC) finance?

MIF’s STC will select and co-finance 20 projects from institutions in Latin America and the Caribbean proposed through the Geotourism Challenge 2009. Projects must be in the identification and/or design phase and be highly innovative, generate social impact, and improve the competitiveness and sustainability of tourism in the region. MIF’s STC will co-finance projects that:

• Develop and promote innovative market strategies for sustainable tourism products and services, presented by SMEs and community businesses.
• Contribute to the development and use of geographical tools that can be applied to the sustainable management of tourist destinations.
• Contribute to the development and application of financial tools and strategies accessible to SMEs and community businesses.
• Generate new organizational models for business networks in sustainable tourism.
• Incorporate, or are based on, information technology and virtual communities that promote access to sustainable tourism market demands.
• Use innovative social business models.

MIF co-financing will range from US$ 300,000 to 500,000 per project.

How can I apply for financing from the MIF STC?

• Submit the Geotourism Challenge 2009 entry form through http://changemakers.net/es/geoturismo by the May 20th, 2009 deadline.
• The MIF STC Selection Committee will pre-select applicants based on the information submitted.
• The MIF STC Selection Committee will request that each pre-selected applicant present a document with detailed information about their proposal.
• The MIF STC Selection Committee will make the final selection of proposals that best respond to STC needs in terms of innovation and methodology.
• Winning proposals will be announced on the Geotourism Challenge 2009 website.
• Winning proposals will then start in the design phase as MIF projects, with support from the STC.

To be eligible for MIF STC financing, you must submit your project idea as part of the Geotourism Challenge 2009 at http://changemakers.net

 

If you have any questions please contact us at: changemakersla@ashoka.org