Frequently Asked Questions

1. What does the IS Fund co-finance?

The IS Fund provides grants to microfinance institutions to help pay for the costs of hiring information systems consultants. It does not co-fund hardware or software costs.

2. How many times can I apply to the IS Fund?

Each microfinance institution may apply for up to two rounds of co-financing. A maximum of USD 15,000 may be granted in the first application, and a maximum of USD 10,000 in the second application (flight costs and per diem for international consultants may be included in the final project cost). In both rounds, applicants are expected to contribute 40% of the assignment costs from their own resources. MFIs don’t have to use the same consultant in both assignments. They are free to choose another consultant for their second assignment.

3. Does the IS Fund have a deadline?

No, the IS Fund accepts applications on an on-going basis.

5. Can you help us prepare a list of possible consultants for our project?

Yes, the IS Fund can help you select some appropriate consultants within the database, according to your specific language and technical needs.

6. Can I apply to the IS Fund to help my institution co-fund staff training?

Training may be funded as a component of a larger assignment (to train staff on project implementation and/or new processes following an IS assignment). Training cannot be co-funded as a stand-alone assignment.

7. Can we apply for several stages at the same time?

If your IS Fund assignment, as discussed and negotiated with your selected consultant, involves more than one stage with some time intervals in between, you can include the various stages in one single IS Fund application. Maximum co-financing per round will still apply (USD 15,000 and USD 10,000 in the first and second round, respectively) and co-funds will be disbursed once the assignment is completed.

8. Our assignment is completed. What do we do now?

Once your assignment is completed, you should send the following list of documents to the IS Fund administrator, so that we can process your disbursement: (1) A copy of the consultant’s final report; (2) A copy of the consultant’s final invoice to the MFI; (3) An invoice from your institution to CGAP; (4) A completed IS Fund evaluation form; and (5) A completed wire transfer instructions form. All these forms are available online at http://isfund.org/documents.asp

9. Can we register as a consulting firm, instead of as individuals?

We prefer consultants to register individually, even if they will work through their firm to conduct the assignment. This is to know exactly which person is going to work with the MFI on the IS Fund assignment.

10. What should go in the financial proposal to be submitted to the institution?

The financial proposal submitted by potential consultants to the MFI that intends to carry out an IS Fund assignment should clearly indicate all costs for the various components of the IS assignment, including eventual transportation and accommodation expenses.

11. All the reports produced are confidential. Do I have to publish them online?

The IS Fund seeks to make information about its co-funded consulting engagements public, to help other MFIs seeking guidance and to encourage donors and investors to help fund further technology expenses. For this reason, it’s important that you publish findings of your assignment online. You don’t have to publish the full report. Simply ask the consultant to fill in a summary engagement report (available at http://isfund.org/documents.asp).

12. Can we use the IS Fund grant to cover the expense of hiring programmers to make modifications to our existing IS software?

No, the IS Fund does not provide grants for this type of assignments.

4. I can't find consultant that fits my requirements among the ones registered on the IS Fund Web site. May I hire someone else?

The IS Fund has a rich database of IT experts; these experts have a wide variety of language skills and regional expertise. However, if your institution prefers to hire a consultant who is not listed in the database to carry out the IS assignment, please ask her or him to register with the IS Fund. Once your preferred IT consultant is registered on isfund.org, you can hire her or him for an IS Fund co-financed assignment.