The Cross-Government Prosperity Fund promotes the economic reform and development needed for growth in partner countries.
The 2015 Strategic Defence and Security Review announced a £1.3billion Prosperity Fund from 2016 to 2021 to promote the economic reform and development needed for growth in partner countries. Prosperity Fund priorities include:
- improving the business climate
- competitiveness and operation of markets
- energy and financial sector reform
- increasing the ability of partner countries to tackle corruption.
As well as contributing to a reduction in poverty in recipient countries, we expect these reforms to create opportunities for international business including UK companies. The Prosperity Fund is accountable to a cross-government ministerial board. This ministerial board has asked UK government departments to consider multi-year work in potential high impact sectors including:
- financial services
- business services
- energy (to include extractives, renewable, low carbon and climate)
- environmental industries
Work will also be developed on business environment, anti-corruption, trade and regulation. Funding for projects to take place in 2016-2021 of the Prosperity Fund is currently being allocated and there will be further details on this page in due course.
Read the Prosperity Fund update for further information on the Fund.
How to bid for funding
Any organisation interested in procurement opportunities related to the Prosperity Fund should register on the FCO e-Procurement portal. Further information can be found by contacting Prosperity.Procurement@fco.gsi.gov.uk.
There is no mechanism for partners and implementers to bid for direct funding from the Prosperity Fund, however individual country projects may include the awarding of grants via a call for bids process. The shape of these projects will be decided in the lead-up to Year 2 of the Prosperity Fund, and details of any call for bids processes will be published here.
The central guidance above sets out the rules governing Official Development Assistance (ODA) expenditure under the Prosperity Fund.
Prosperity Fund year 1
Year 1 of the Prosperity Fund is now under way, with projects taking place in: China, India, Brazil, Mexico, Chile, Colombia, Peru, Malaysia, Indonesia, Vietnam, Philippines, South East Asia, Nigeria, South Africa, and Turkey.
Projects include work on education, healthcare, energy and anti-corruption.
Contact Prosperity.FundProgramme@fco.gsi.gov.uk for further information and feedback.