Lifestyle World

USAID SIGNS MEMORANDUM

USAID SIGNS MEMORANDUM OF UNDERSTANDING WITH CHILD RELIEF INTERNATIONAL

The U.S. Agency for International Development (USAID) signed a Memorandum of Understanding (MOU) with Child Relief International to further the systematic approach of USAID’s Development Innovation Ventures (DIV) to maximizing measurable development outcomes worldwide. DIV is USAID’s open innovation program that identifies, pilots, and tests breakthrough solutions that demonstrate rigorous evidence of impact, cost-effectiveness, and viable pathways to scale and sustainability.

As part of the MOU, CRI will provide world-class technical advisors who will join DIV’s extensive cadre of subject-matter experts to refine and improve the program’s evaluation of innovative solutions on a continuous basis. CRI and USAID will work together to increase the use of evidence in the programming of donors and foundations by capturing and promoting best practices, lessons-learned, and programmatic results.

The 2019 Nobel Laureate in Economics, Dr. Michael Kremer, co-founded DIV and continues to serve as Scientific Director for the program. DIV’s tiered funding model, inspired by venture-capital funds, invests relatively small amounts of money in a variety of unproven ideas, which can be new products, technologies, services, or innovative business or delivery models. More substantial support of up to $5 million is available to those solutions that demonstrate rigorous evidence of impact, cost-effectiveness, and potential to scale. Since 2010, over 200 DIV-financed innovations have directly affected more than 30 million lives across 46 countries.

Since 2004, CRI has funded a portfolio of non-governmental and for-profit organizations across the Caribbean, Asia, and sub-Saharan Africa that have demonstrated potential for substantial impact. CRI has also funded hundreds of research projects and pilots on implementing programs to improve the lives of people who are living in poverty. CRI’s funding strategy, developed by its co-founders Andrew and Bonnie Weiss, and its team’s experience in global investments, impact-evaluations, and strategy, make it well suited to support DIV.

(Sources-www.usaid.gov.)

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