ACCI

Afghan Business Innovation Fund to Grant Funding for Innovative and Profitable Ideas

The Afghan Business Innovation Fund (ABIF) signed a MoU with ACCI to facilitate the use of this fund.  Funded by Department for International Development (DFID), ABIF will grant funding to innovative and profitable ideas through a competitive solicitation process.

In the MoU, ABIF’s role will be to use ACCI channels to:

  • Encourage the private sector to increase investment,
  • Urge informal business arrangements to be formalized,
  • Fund innovative and profitable business ideas,
  • Support the training of ACCI staff to solve business challenges; and
  • Train ACCI staff to process proposals for funding

ACCI’s role in the MoU is to:

  • Allow ABIF to use the Chamber’s website, networks, and personal business channels to market the grant,
  • Use the Chamber’s reach in the provinces to facilitate nationwide expansion of ABIF’s footprint in the solicitation of grant proposals,
  • Facilitate setting up working group meetings at the request of ABIF; and
  • Assist in encouraging informal businesses to operate as a formal business entity in order utilize the grant.

For proposals that are funded, grants will be disbursed in amounts that range from USD $ 100,000 to $ 1,000.000 every six months.  The evaluation of the grants will be based on investment risk especially in volatile provinces, the level of innovation, assumption of profitability, and number of potential beneficiaries from the implementation of the business idea.

In the first phase, ABIF will prioritize the sectors for funding consideration that likely includes agriculture, carpet, furniture manufacturing, small mining, and medical supplies.  However, other innovative ideas would be welcomed.

“One of challenges facing the private sector is lack of access to financial support.  This deficiency has caused weak growth in the business community.  With this fund provided by ABIF, we are hopeful that this investment will result in private sector expansion as well as the creation of more job opportunities,” said Mr. Mohammad Qurban Haqjo, CEO of ACCI

“ABIF shares the commitment of private sector development with ACCI.  The Chamber is a key strategic partner and we appreciate all their support in promoting the fund to the real business people.  The grants will be given to innovative commercial ideas, which will benefit a lot of people. The Fund does not design or impose solutions; instead it encourages the private sector to come up with new ways of doing business that will solve constraints to economic growth,” said James Blewett, ABIF Fund Manager.

ABIF will announce the sectors that are prioritized as well as other criteria for the submission of proposals via its website at www.imurabba.org.  Competing firms have to send their short version of proposals to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

ABIF will then evaluate the short version of proposals and if deemed worthy of further consideration, firms will be asked to send a more detailed version.  All proposals will be evaluated and prioritized by the Administrative and Technical Teams of both ABIF and DFID.