THEME: Private Sector Development:
Creating Markets, Transforming Lives
WHEN: Competition opens April
25, closes September 30, 2007
WEB: http://www.ifc.org/competition
The competition is a joint initiative
by IFC, the private sector arm of the World Bank Group, and the Financial
Times to solicit action-oriented essays that provide insight into current
research on private sector development, as well as ways to develop and
support the implementation of leading-edge initiatives. Target audiences
include economic and financial policymakers, the international financial
community, and international domestic investors.
The top prize (Gold award) is $20,000
in cash. The judging panel will also select two Silver award winners for
a cash prize of $10,000 each and three Bronze award winners for a cash
prize of $5,000 each. All winning essays will be published on IFC’s
Web site and by the Financial Times.
The announcement follows the tremendous
success of the first IFC/FT Essay Competition last year, which drew more
than 500 entries from over 70 countries on topics ranging from microfinance
to private sector development in post-conflict environments. The first
prize winner, Professor James Tooley of Newcastle University in the United
Kingdom, was recently appointed adviser to a $100 million fund for private
schools for the poor—the subject of his research and his essay submission.
Tooley remarked, “The global distribution platform that IFC and the Financial
Times provided gave the concept the needed profile, enhancing its credibility.”
Commenting on last year’s winning essays,
Michael Klein, IFC Chief Economist and World Bank Group Vice President,
Financial and Private Sector Development, said, “The outstanding ideas
proved that there is a rich vein of thinking to mine among diverse professional
and academic communities. By uncovering these ideas, we can foster innovative
partnerships between the business and development communities. As last
year’s essays showed, markets can indeed provide solutions for low-income
citizens where standard state- or donor-driven approaches may struggle.”
Lionel Barber, Financial Times Editor,
commented: “I’m thrilled to launch a second essay competition with IFC.
I hope the success of last year’s competition will encourage more entries
and broaden thinking on how to apply sound business principles to gain
tangible results in private sector development.”
The competition will close on September
30, 2007, and the winning essays will be announced in early 2008. For more
information on last year’s winning essays and details of this year’s
competition, please visit www.ifc.org/competition.
The judging panel includes: Michael
Klein, IFC Chief Economist and World Bank Group Vice President, Financial
and Private Sector Development; Nadan Nilekani, Chief Executive Officer,
Infosys; C.K. Prahalad, Paul and Ruth McCracken Distinguished University
Professor of Corporate Strategy at the Stephen M. Ross School of Business,
University of Michigan; Frances Seymour, Director General at the Center
for International Forestry Research in Indonesia and former Program Director
at the Institutions and Governance Department of the World Resources Institute;
and Martin Wolf, Associate Editor and Chief Economics Commentator at the
Financial Times. Other jurors may be added to the panel before September
30, 2007.
To set up an interview with last year’s
winners, the competition judges, or World Bank Group representatives, please
contact:
Christine Bowers, World Bank Group,
+1 (202) 458-8472, e-mail: cbowers@worldbank.org
Jo Crosby, Financial Times, +44 (0)20
7873 3811, email: Jo.Crosby@FT.com
Links:
§ IFC/FT
Competition website link
§ Links
to first round winning essays
§ FT’s
press release on Tooley’s appointment
§ Links
to Tooley’s website
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