The Arab Gulf Program for United Nations Development Organizations (AGFUND) has announced a $300,000 international prize for projects aimed at poverty alleviation implemented by the UN/international agencies or those launched by non-governmental organizations or individuals. The AGFUND Prize coincides with the UN's declaration of 2005 as the Year of Micro credit. Spelling out the details of the prize, a spokesman for AGFUND told Arab News that it has been divided into three categories of prizes valued at $100,000 each. In the first category nominations would be considered for projects carried out by the UN, international or regional organizations. The theme of the prize is micro credit for helping to achieve the millennium development goals. The theme of the second category of prize is the impact of micro credit on the poverty reduction program. Projects by NGOs will be considered in this category. In the third category, nominations will be considered for projects initiated by individuals. The spokesman said nominations for AGFUND Prize should be made by filling in the nomination form (either on hard copy or electronic form available on AGFUND's website). The completed form, along with relevant documents, should be sent to the Department of Communications of AGFUND on or before April 30, 2005. The postal address is: P.O.Box 18371, Riyadh 11415; e-mail:[email protected]. The whole thrust of the AGFUND Prize is to recognize the efforts of UN/international organizations, NGOs and individuals working to improve the lot of those people who have no means of qualifying for bank loans. The spokesman said AGFUND, which has already set up Arab Bank for the Poor in Yemen and Jordan, is going ahead with plans for establishing similar projects in Lebanon and Sudan as well as Morocco, Syria and Mauritania.
