A Fault in Funding
An initiative undertaken by the World Bank reveals a troubling gap in the financing of social enterprises.
In 1998, the World Bank launched the Development Marketplace (DM), a competition-based initiative that aims to solicit promising new ideas for meeting the needs of people who live in underserved communities. DM hosts periodic global and regional competitions, and finalists—which can be either nonprofit or for-profit enterprises—receive grants to further their work. To date, DM has awarded more than $65 million to support 300-plus projects in developing countries, with a special focus on...
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