Silver Economy - FAQ

Applicants legally registered in one of IDB’s 26 borrowing countries where the project will be implemented may apply to Category A. The 26 countries are: Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Suriname, Trinidad and Tobago, Uruguay, and Venezuela.

*Applicants developing projects to be implemented in Nicaragua and Venezuela can only apply for Non-reimbursable Grants.

Applicants not legally registered in one of IDB’s 26 borrowing countries (see above) but registered in any of the following 22 non-borrowing countries may apply to Category A only in partnership with an organization registered and located in one of the 26 borrowing countries where the project will be implemented. The 22 non-borrowing countries are: Austria, Belgium, Canada, China, Croatia, Denmark, Finland, France, Korea, Germany, Israel, Italy, Japan, The Netherlands, Norway, Portugal, Slovenia, Spain, Sweden, Switzerland, United Kingdom, and United States.

Applicants registered in any of IDB´s 22 non-borrowing countries, who are not legally registered in one of IDB’s 26 borrowing countries, and who do not have any presence nor partnerships in those 26 countries, where the project will be implemented, may only apply to Category B.

The 22 non-borrowing countries are: Austria, Belgium, Canada, China, Croatia, Denmark, Finland, France, Korea, Germany, Israel, Italy, Japan, The Netherlands, Norway, Portugal, Slovenia, Spain, Sweden, Switzerland, United Kingdom, and United States.

The projects will be implemented in one or more of IDB’s 26 borrowing member countries: Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Suriname, Trinidad and Tobago, Uruguay, and Venezuela.

*Applicants developing projects to be implemented in Nicaragua and Venezuela can only apply for Non-reimbursable Grants.

If your organization is legally registered in one of IDB´s 48 member countries, follow the guideline indicated in question 2 above.

If your organization is not legally registered in any of IDB’s 48 member countries, you cannot apply to this challenge.

Applicants can apply for one or more than one type of funding, but please note that this decision depends on the characteristics of the business model (i.e., income generating, limited earning potential, financial sustainability, etc.) being proposed. 

Please note that after the due diligence process, IDB Lab may propose different financial instruments that may be a better fit for the business model and for the Applicant´s financial management capacity. 

For Category A applications, IDB Lab may fund up to 50% of the total project budget; therefore, Applicants must be prepared to contribute with the balance to complete the total project budget (starting at 50% to pilot, replicate or scale up the business model (these are called “counterpart” resources). IDB Lab up to 50% + Applicant 50% or higher percentage = 100% Total Project Cost

This 50% (or higher percentage) of “counterpart resources” could be half in cash and half in in-kind resources.  Please note that for loan financing, counterpart funds to be provided by the Applicant are desirable, but not required, however counterpart funds will be positively considered for selection. 

Note that written evidence of counterpart resources to implement the model (similar to a letter of interest or commitment) will be required upon applying.

You can e-mail your questions to: SilverEconomy@iadb.org before the final submission deadline. This mailbox will be open until the selected proposals are announced (October 2021).

Please note that this mailbox is only for technical issues related to the Silver Economy Challenge.

This Challenge is bilingual, so feel free to send your application in English or in Spanish. Only the required attachments (proof of legal registration, by laws, and audit reports) can be submitted in English, Spanish, Portuguese, or French.

The application must be completed and submitted online (YouNoodle platform) by July 31st, 2021 (midnight, Eastern Time, USA), please click here to apply. 

Please note that you have to create a username and password.

Applicants to Category A should upload the following documents:

1. Written evidence of counterpart resources to implement the model (similar to a letter of interest or commitment).
2. Registration (this must be a legal document establishing the Applicant as registered or authorized by the government to do business. Organizations with temporary authorizations/licenses to operate in the country where the project will be implemented will not be accepted):
   • Applicant registered in the target country where the project will be implemented: copy of Applicant´s proof of legal constitution and incorporation under the laws of the target country where the project will be implemented.
   • If applicant is registered in one of the 22 IDB non-borrowing member countries and is not registered in any of the 26 member countries where the project will be implemented: copy of Applicant’s proof of legal constitution and incorporation under the laws of one of the 22 IDB non-borrowing member countries, plus a copy of a collaboration/joint venture agreement with an Applicant registered in the target country where the project will be implemented.
   • Copy of the Applicant’s bylaws and other documents on its corporate governance.
   • For grants and contingent recovery financing: copies of Applicant´s latest annual financial statements for the last 2-3 years (2018-2020), of which the last one has been prepared by an external auditing firm (for grants).
   • For loans: copies of the Applicant’s latest annual financial statements for the last 2-3 years (2018-2020), prepared by an external auditing firm. Companies that do not have externally audited financial statements will not be eligible for loan financing.

Documentation can be summitted in Portuguese, French, English or Spanish in PDF format. The IDB shall not be responsible if not able to open uploaded files.

Applicants to Category B should upload the following documents:  

• Written proof of legal constitution/incorporation
• Organizational presentation describing solution (5 slides max, 10 MB, in PDF format)
• Video describing solution (2 minutes max in URL format). Hint: link to YouTube video or Google Drive

Yes. Applicants can leverage resources from a variety of sources including both national and international government agencies, NGOs, foundations and bilateral and multilateral entities.

Pre-selected Applicants (short-list) will be contacted by e-mail by the end of August 2021 by IDB Lab.  Selected Applicants will be officially notified in writing by IDB Lab by October 2021.

The IDB does not provide individual feedback or comments on applications.

For applications under Category A IDB Lab Financing, click here to see what information is required.  For applications under Category B Honorable Mention, click here to see what information is required, but remember to APPLY ONLINE.

Please click here to see the English session.  For the Spanish session, please click here.