The IFE provides co-financing grants for investment projects with a high job creation impact, and it is a special initiative that operates under the brand Invest for Jobs.

Mr Karim Gad, IFE Country Manager, Ghana, speaking at information session on the new call for proposal in Accra said IFE was an investment mechanism created by KfW Development Bank as part of the Special Initiative "Decent Work for a Just Transition" of the German Federal Ministry of Economic Cooperation and Development (BMZ).

He said IFE launched a new competition round in Ghana, where companies as well as public and non-profit organisations could apply for his co-financing grants.
He said to be eligible for a grant, investment projects must create jobs in the private sector and in addition to the grant, applicants could apply for a contribution to employer-(co) financed social protection schemes.

"The call closes on April 15, 2025. Applications submitted by February 28, 2025, will participate in an early evaluation round," he added.
He said the Facility awards grants ranging from EUR 650,000 to EUR 10 million per project for the job creation component, indicating that preference would be given to projects that combined job creation with social protection measures.

Mr Gad said these projects should give employees and their families access to social protection benefits beyond mandatory minimum requirements.
He said this should include additional health or accident insurance, pension schemes or other social protection measures offered by the employer, projects that formalised the employment status of workers in informal employment.

"The Facility only co-finances mature projects that have not yet started and that offer reasonable chances for being operationally and financially sustainable," he said.
He said these projects should contribute to the promotion of women's employment or to the socially just transition to a climate-friendly economy to have a better chance of receiving a grant.
He said in addition to the application for a grant, investors have the option to apply for temporary co-financing by IFE of additional social protection schemes that were provided to employees and their families.

Mr Roland Steinmann, IFE Head of Social Protection Unit, said social protection benefits provided to workers in informal jobs were also eligible for co-financing.
He said these social protection schemes must go beyond the minimum standards required by law.
He said this could cover enhanced social security, Investment in social measures.
He said as a first step, the Facility would make a pre-selection from the submitted concept notes. In a second phase, the selected applicants will be invited to submit fully elaborated project proposals, which will then be evaluated in detail.

Mr Steinmann said IFE Helpdesk answers questions related to the application process and to the financing of social protection schemes.