After almost 3 years of successful achievements for micro and small entrepreneurs, the funding instrument Corona Business Grant was closed end of January 2023. WIDU is now technically ready to introduce new rapid response grants on this basis to mitigate for instance the effects of climate change and famines and has plans to do so in the future.
What is The Corona Business Grant?
Initiated in the early days of the COVID-19 pandemic, the WIDU project's "Corona Business Grant" was implemented within six weeks with responsiveness, constituting an efficient, secure and impactful financing instrument for micro and small businesses which are oftentimes more innovative and dynamic in responding to changing market conditions.
Other than the traditional participation process with the Original WIDU Grant where a diaspora donor is required to financially contribute to their partner’s project, the Corona Business Grant offered an option to support a business even to those diaspora members who also financially struggled during the pandemic. Skipping the required private investment led to a fast-track process to help leverage bottom-up mitigation activities against the effects of the pandemic. Special interest was given to businesses that contributed in an innovative way to the national or community response to the COVID-19 pandemic, regardless of the sector of activity. Participating businesses had the opportunity to receive a grant of up to EUR 2,500.
Frequently Asked Questions
1. What happens to projects that have been submitted already?
Businesses that had already have been accepted or are still in the process of implementation are not affected by this. Project proposals that have already been submitted may still get accepted: The WIDU team is continuing to review applications that have been sent.
2. Will there be another Corona Business Grant?
While influence of the pandemic on the economy in the WIDU partner countries luckily fades, in 2023, however, African small businesses face new and different challenges than in 2020. WIDU wants to focus on its other funding instruments: the Original WIDU Grant as well as conception of new Local Calls. WIDU still has the possibility to reactivate the CBG in case this becomes necessary. Currently there no plans to do so though.