The 2015 Strategic Defence and Security Review announced a £1.3bn Prosperity Fund over the next 5 years to promote the economic reform and development needed for growth in partner countries. Our priorities will include improving the business climate, competitiveness and operation of markets, energy and financial sector reform, and increasing the ability of partner countries to tackle corruption. As well as contributing to a reduction in poverty in recipient countries, we expect these reforms to create opportunities for international business including UK companies.

The role of the Fund is also set out in the UK aid strategy, Tackling Global Challenges in the National Interest.

The Prosperity Fund will form a small but integral element of the UK’s total Official Development Assistance (ODA) commitment of 0.7% of GNI. It will primarily be focused on ODA eligible middle income countries, contributing to poverty reduction and complementing DFID’s work in poorer countries. In this way, the Fund will contribute towards meeting the new Sustainable Development Goals. ODA spend under the Fund will be fully consistent with OECD DAC criteria.

The Foreign & Commonwealth Office’s programme funds seek to create real, measurable outcomes in support of the FCO’s policy goals. Since 2011, the Prosperity Fund has supported the FCO’s Prosperity Priority on opening markets, ensuring access to resources, and promoting sustainable global growth, mainly in the emerging powers.

Southern Africa Prosperity Fund Objectives

The Southern Africa Prosperity Fund, administered through the British High Commission, Pretoria, seeks ambitious proposals to boost inclusive growth and sustainable economic development through interventions in power, infrastructure, cities, skills and transparency in priority countries in the SADC region. Projects addressing a particular objective should focus on at least one of the countries identified; multi-country projects are strongly encouraged. Successful project bids will deliver high-impact, value-for-money activities for around £100k or more. Projects should be able to commence in May 2016 and be completed by the end of March 2017.

• Power (Angola, Malawi, South Africa, Tanzania, Zambia)

Proposals to facilitate increased electricity generation and improved distribution are welcomed. Interventions of particular interest could include opportunities to increase access to on- and off- grid energy; lower barriers for electricity market reform; expand independent power procurement; encourage development of gas infrastructure; and map donor support in the renewable sector.

• Infrastructure (Angola, Malawi, Namibia, South Africa, Tanzania)

Proposals to unlock trade and growth potential currently constrained by poor transport and ICT infrastructure are welcomed. Interventions should help identify ways to expedite investment in fundamental and advanced infrastructure, including through use of expertise to help regional governments and bodies prepare and close on projects, i.e. through use of Public-Private Partnership tools. Proposals which support adoption of new regulatory frameworks in ICT are also welcomed.

For all the details please visit: https://www.gov.uk/government/world-location-news/southern-africa-prosperity-fund-call-for-project-bids-for-201617