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 three-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 regularly audited by an independent, registered auditor (for private and non-government organisations) or the PNG Auditor General's Office (for eligible government organisations). Government agencies can also use independent auditors if the Auditor General is unable to prioritise their audits. The certified audit reports must be for two or more recent consecutive years in the last four years, without significant qualifications, pertaining to the PNG operations and submitted with the financial statements for the relevant years.
- Clear title to land: For any projects involving infrastructure activities, evidence of security to land title, lease (accepted as a traditional 99-year lease where land ownership reverts to GoPNG; generally, sub-lease are not acceptable) or legally or legally-registered land use agreement (for customary land) is a requirement. For projects involving light infrastructure (e.g., water supplies, minor upgrades) in multiple sites, land-use agreements can be provided at a later stage (in the Detailed Proposal) but should include all available information and plans for land use agreement finalization.
- 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 size and nature that indicate an ability to successfully implement the proposed project. There must be an appropriate management structure and personnel with the skills and capacity required to implement the project.
- 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 recent letters of support from relevant government departments, other service providers and the community. These should be less than one year old, specific to the project and 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, women's empolwerment, HIV/AIDS, disability, child protection and environment issues through the project.
- 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