Application assessment
The aim of the assessment is to ensure that the project is sustainable and the objectives are realistic in terms of schedule, budget and human resources.
Because the financial grant is paid retrospectively, the applicant must have sufficient and verifiable financial resources to implement the project on a self-financing basis. Projects are assessed on the basis of economic, social and environmental criteria, taking into account in particular:
- The project’s commercial viability.
- The project’s capacity to achieve the set goals. Also the realistic nature of the project schedule and budget from the perspective of the set goals, practical implementation and the applicant’s capacity.
- The applicant’s business experience and adequate history in the field in relation to the project’s nature and scope.
- The applicant must have sufficient financial and human resources for carrying out the project for which Business Partnership Support is applied.
- The project must be human rights sensitive as referred to in the Ministry for Foreign Affairs’ guidance note ‘Human Rights Based Approach in Finland’s Development Cooperation’.
- The application must take the identification and management of project-related risks sufficiently enough in relation to the project size.
- Compliance with the tax responsibility principles laid down for in Finland’s development cooperation funding.
In addition to the aforementioned criteria, overall assessment is used in the evaluation. In the overall assessment, verifiable experience and evaluations of any previous activities financed by the Ministry for Foreign Affairs are taken into account.
Assessment of development impacts in Finnpartnership’s projects
The financial grant, Business Partnership Support, is part of the Finnish Government’s official development cooperation. Thus, companies applying for the grant are expected to achieve development impacts in the target countries. The key indicator for monitoring development impacts is the creation of jobs in the target country. The assessment of development impacts plays a key role in the evaluation of project applications.
Environmental and social impact assessment
Support recipients agree to comply with the Business Partnership Support conditions and internationally accepted environmental and social responsibility standards. Additionally grant recipients shall to comply with local legislation concerning, for example, environmental and employee rights. Taking into account and managing the project’s environmental and social impacts is important. It is also beneficial to the company even at the project’s preparation stage.