Los Cabos, Mexico, June 18, 2012—The
Group of 20 today announced the winners of the G20 Challenge on Inclusive
Business Innovation, a global competition managed by IFC, a member of the
World Bank Group. Ambassador Rogelio Granguillhome, Executive Secretary
of the Mexican Agency for International Development Cooperation and Chair
of the G20 Development Working Group, presented the awards at a ceremony
The world’s leading economies launched the G20 Challenge to rapidly expand
commercially viable businesses that serve the large numbers of low-income
people that constitute the base of the global economic pyramid. Its goal
is to identify, showcase, and support innovative business models that can
be replicated across developing countries.
“The winners demonstrate that commercially viable companies can also provide
economic opportunities for poor people—along with better access to clean
water, electricity, health care, education, housing, phone services, and
financial services.” said Lars Thunell, IFC Executive Vice President and
CEO. “They provide impressive models for others to follow.”
The 15 winners together reach more than 40 million people living at the
base of the economic pyramid—as suppliers, distributors, retailers, or
customers—in more than 10 countries. They are:
(Mexico), which helps improve the lives of rural Mexican farmers and
food producers by providing financing to them.
Hospitals Group (India), which helps provide specialized medical
services in India’s underserved rural areas and smaller towns.
Grain Milling (Malawi), which helps local entrepreneurs build businesses
that entail selling baked goods.
a program launched by Promigas (Colombia) to help people finance home
improvements, microbusinesses, schooling, and appliance purchases.
Universitaria Minuto de Dios (Colombia), which makes higher education
more accessible by offering loans to students in Colombia.
(Guatemala), which manufactures low-cost water filters that can be
assembled using local materials and labor.
Foods Limited (Pakistan), which helps small dairy farmers in rural
Pakistan join the formal economy.
· Jain Irrigation
Systems Ltd. (India), which provides irrigation systems to farmers
in several developing countries, improving their yields by up to $1,000
Water Company (Philippines), which provides safe, affordable drinking
(Luxembourg), which provides affordable and accessible mobile services
and solutions, including financial services, to customers in emerging markets
in Latin America and Africa.
Unidad de Lácteos (Ecuador), which helps combat malnutrition by providing
affordable high-protein dairy drinks with milk purchased from small farmers.
Harvest Coffee Importers (United States), which helps small coffee
farmers in Central and South America and East Africa improve their lives
by buying their coffee at fair prices.
Atacado Ltda (Brazil), which supports small business in Brazil by extending
credit to microentrepreneurs with no credit history.
Viviendas Integrales (Mexico), which provides affordable and eco-friendly
housing to low- and middle-income families in Mexico.
India Private Limited (India), which builds and runs water-purification
plants to provide safe and affordable drinking water.
Since 2005, IFC has invested over $6 billion in more than 200 companies
that focus on inclusive business models, in more than 80 countries around
the world, reaching more than 200 million people. IFC’s Inclusive Business
Models Group, launched in 2010, promotes the sharing of experiences in
inclusive business models and connects people, resources, and ideas in
support of its clients.
Click here www.g20challenge.com
for more information about the winners and the innovative business
models they and others created. Click here
for information about the contest judges
and the selection process.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, providing
advisory services to businesses and governments, and mobilizing capital
in the international financial markets. In fiscal 2011, amid economic uncertainty
across the globe, we helped our clients create jobs, strengthen environmental
performance, and contribute to their local communities—all while driving
our investments to an all-time high of nearly $19 billion. For more information,