To qualify for funding, organisations will be assessed against the criteria detailed below. The Incentive Fund team will review each Concept Proposal against this criteria as part of Stage One of the five-stage application process.
Organisations must be registered with the Investment Promotion Authority (IPA) or be established by PNG legislation. In addition, organisations must demonstrate that they meet the following key criteria for funding:
- Evidence of audited accounts: All interested and applying organisations must ensure they have been audited by a registered auditor (for private and non-government organisations) or the PNG Auditor General's Office (for eligible government organisations), for two or more recent consecutive years in the last four years. Certified audit reports must be without qualification, pertaining to the PNG operations, and submitted with financial statements for the relevant years.
- Clear title to land: For any projects involving infrastructure activities, evidence of security to land title, lease (usually a 99-year lease for government land) or legally-registered land use agreement (for customary land) is a requirement.
- Adequate program management capacity must be available for the scope of the project.
- The organisation must have a history of successful completion of projects of a similar size and nature and have an appropriate management structure and membership.
- All assets created by the project will be community or government owned or in some way be assured as an asset that will benefit the community on an on-going basis.
- The project must comprehensively address issues of sustainability.
- The project must have letters of support from relevant government departments, other service providers and the community. These should include a commitment to recurrent funding if relevant.
- An organisation can submit more than one Concept Proposal. However, there can only be one grant per organisation at any one time.
The organisation must agree to address gender, HIV/AIDS, disability, child protection and environment issues. Project proposals should demonstrate how project outcomes will contribute to IF4’s end-of-program targets. Of the grants:
- 80% will support empowerment of women and girls
- 20% will support private sector investment
- 50% will be allocated to infrastructure