News article

Trinidad and Tobago call for bids: FCO’s Prosperity Fund 15/16

This world location news article was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

The British High Commission in Port-of-Spain would like to invite concept bids for the FCO’s Prosperity Fund 2015/16

What kind of projects do we want to support?

The Prosperity Fund supports projects that promote sustainable global growth. In the Caribbean we are focused on the following areas:

  • Delivering improved energy security through mechanisms that support reduced dependence on oil imports, promote deployment of renewables, and energy efficiency (See below for more details)
  • Providing a fertile environment for local and international business growth through systems that improve efficiency and transparency and reduce the scope for corruption (See below for more details)

What criteria are we using to select projects?

We try to support projects that can really add value and impact. Projects should aim to cover an existing gap in the system and promote practical change. We are especially interested in projects that utilise UK experience and expertise to promote stronger UK-Caribbean relations.

As a result, our selection criteria will give preference to proposals that demonstrate how they add value to existing government or multilateral initiatives, take a multi-country or regional approach, build on UK experience or expertise, and include the relevant stakeholders and partners to ensure the outcomes of the project can be carried forward.

In the 2015/16 round of funding we are seeking 3-9 month projects that will complete by February 2016. If you have a project with a longer timescale please still contact us, although we are unable to commit funding for projects that start after February 2016 at this time.

Projects must have activity in or involving individuals / institutions from at least one of the following countries covered by a British High Commission: Trinidad & Tobago, Guyana, Suriname, Barbados, OECS members, Jamaica, Belize.

What should you do next?

If you wish to apply for funding from us please complete the short concept bid form using the implementer bidding guidance and frequently asked questions send it to: Economics.PortOfSpain@fco.gov.uk by 12 December 2014. Please note we are keen to provide funding for projects with a budget of around £80,000. Projects below this limit are not ruled out, but are less likely to receive funding. Please ensure that all required sections of the form are properly completed as incomplete proposal forms will be rejected. In particular, please ensure that you complete the cost and funding sections.

What will happen once I have submitted my bid?

We will review your concept bid form, and if you are successful you will be informed by 24th January 2015 and invited to complete a full proposal form. Proposals will be required by 9th February and will set out implementation, financing, and evaluation aspects in more detail. Final results will be announced in March 2015. Successful projects will be required to submit quarterly project and financial reports during the implementation of the project and a final report on project completion.

More Details on the Themes

Delivering improved energy security through mechanisms that support reduced dependence on oil imports, promote deployment of renewables, and energy efficiency

Under this theme we would like to see projects which:

  • support national or regional policy development and promoting efficient and sustainable energy markets

  • support businesses, NGOs and civil society demonstrate innovative approaches that address energy security issues

  • develop and showcase technological or process innovations which could address energy issues at national or regional level.

Providing a fertile environment for local and international business growth through systems that improve efficiency and transparency and reduce the scope for corruption

Under this theme we would like to see projects which:

  • promote improved policy, regulation, and transparency in priority areas of the economy

  • work with the public sector and civil society to build business case and capacity for tackling corruption.

  • develop the systems and approaches to tackle bribery and corruption which act as a barrier to doing business in the region.