Grant Program

Introduction

SIFE is pleased to announce the availability of 2008 HSBC Financial Literacy Grants. The overall HSBC Financial Literacy Programme involves resources from 23 countries that have HSBC operations and operate SIFE programs.

In 2008, 23 of the SIFE countries will be eligible for HSBC Financial Literacy Grants. In conjunction with the HSBC Global Education Trust and HSBC, SIFE is seeking application for grants for financial literacy projects to be completed between January and July 2008. Successful applicants will receive grants ranging from US$250 to US$1,000 and be dispersed in two allotments. All eligible SIFE teams are encouraged to apply.

Grant Application Criteria

The key criteria for deciding which projects to select and how much to allocate 2008 HSBC Financial Literacy Grants will include:

• An emphasis on quality financial literacy projects that commit to delivering meaningful and measurable results that have impact in both the short-term and long-term for financial education;
• The ability to change lives in conjunction with meeting your SIFE team's goals and objectives for the project(s), and build knowledge for sharing with other SIFE teams;
• The challenging and innovative nature of the project (such as but not limited to emphasis of hands-on applications, use of the Internet, partnerships, etc.);
• The sustainability of the educational program including effective budgeting, partnerships, and teamwork; and
• The likely fulfillment of the fourth SIFE competition judging criteria for 2007-2008 (i.e. "How effectively did the SIFE team measure and demonstrate that it created economic opportunity by helping others develop the financial management skills necessary to achieve financial independence?")

In developing project ideas, please take advantage of the work done in 2005, 2006, and 2007 including at the HSBC Financial Literacy Forum and by other SIFE teams so that we build on the knowledge created already in the programme. This request is not intended to constrain SIFE teams in any way but rather to save "reinventing the wheel" and provide them with the opportunity to build on already successful ideas.

If the project is a continuation from 2005, 2006, and/or 2007, please say so and identify clearly the incremental growth or potential ongoing impact that the project will create.

Practical Advice

Applications that meet the following principles in respect of the key criteria above are more likely to receive funding:

1. Projects that are focused, clear, easily definable, practical and have an element of diversification.
2. Initiatives with robust processes and reliable (measurable) metrics that give us confidence that the teams really deliver worthwhile results.
3. Activities that are challenging for the students and innovative (e.g. in the identification of needs and/or the use of technology) and that also give the teams the potential to reach a lot of people.
4. Processes that captures knowledge (so it could be build upon), are sustainable, and have a well thought through action plans and/or way ahead for next year.
5. When working with entrepreneurs, the SIFE team must focus on building their financial skill set as described in SIFE Criteria 4.

SIFE and HSBC will decide at their sole discretion to select successful candidates that will be subject to contracted grant terms and conditions.
 

Grant Information