SIDBI Launches Second Window Of Swavalamban Challenge Fund; Focus Laid On Climate Change Particularly

The second window of the Swavalamban Challenge Fund (SCF) that aims to roll out financial support to educational institutes and non-profit organisations (NGOs) for addressing developmental gaps has been launched by the Small Industries Development Bank of India (SIDBI).

SCF has been described as a competitive mechanism to enable crowdsourcing of innovative and outcome-driven solutions for development-related challenges.

SIDBI is the one and only facilitator of the SCF, though it takes certain support from FCDO UK to design, run and monitor the same.

The proposals can be submitted for assuming pilot and scale-up initiatives.

SIDBI Chairman and Managing Director Sivasubramanian Ramann explained that the second window of SCF aligns with India’s commitment of attaining net zero emissions by 2070 that was made in the recently held 26th UN Climate Change Conference of the Parties (COP 26).

“The themes for this edition have been curated with a focus on green initiatives including climate change mitigation and adaptation measures, eco-friendly practices through recycle and offering solutions to reduce carbon footprint in the country,” Ramann was quoted in a report by the Economic Times.

Themes like financial inclusion, access to financial services, promotion of the culture of entrepreneurship along with sustainable livelihood will be focused upon this time around as well.