Sub-Grants
ReFinD offers five categories of sub-grants, ranging from USD 5,000 for proposal development to USD 450,000 for large-scale greenfield evaluations. These grants support innovative research projects aimed at expanding digital financial inclusion and improving retail finance distribution networks.
π‘ Turning Ideas into Impactful Research
Funding Amount: $5,000
Purpose: Supports researchers in developing strong research proposals for pilot projects, natural experiments, and greenfield evaluations.
Eligibility:
- Early-stage researchers and institutions preparing proposals.
- Proposals must align with ReFinDβs research priorities.
Grant Coverage: - Researcher time and resources.
- Preliminary data collection.
- Proposal refinement and stakeholder engagement.
Duration: Up to 6 months.

π Testing Innovations for Financial Inclusion
Funding Amount: $40,000 β $60,000
Purpose: Provides 3 to 12 months of funding to develop and test innovative interventions or research methodologies.
Eligibility:
- Researchers with initial concepts for scalable projects.
- Projects should focus on testing new financial inclusion models.
Grant Coverage: - Small-scale intervention deployment.
- Data collection and analysis.
- Feasibility assessments.
Expected Outcome: Insights from pilot studies that can support full-scale research projects.

π Real-World Insights from Policy Changes
Funding Amount: $40,000 β $60,000
Purpose: Funds research that leverages existing variations (e.g., policy changes, new regulations, or financial product rollouts) to study their impact on financial inclusion.
Eligibility:
- Research using quasi-experimental methods.
- Studies analyzing natural variations between different groups.
Grant Coverage: - Data collection and statistical analysis.
- Researcher time and project expenses.
- Stakeholder engagement and reporting.
Expected Outcome: Empirical evidence on how financial policy or market changes affect financial inclusion.

Funding Amount: $100,000 β $125,000
Purpose: Supports expanding ongoing research by funding additional experiments, follow-up studies, or data collection.
Eligibility:
- Researchers with existing projects needing additional funding.
- Projects should have previous funding from recognized institutions.
Grant Coverage: - Endline data collection and analysis.
- Expansion of sample size or study duration.
- Follow-up interventions based on previous findings.
Expected Outcome: Strengthened longitudinal research and deeper insights into digital financial inclusion strategies.

π Scaling Solutions for Global Impact
Funding Amount: $250,000 β $450,000
Purpose: Provides long-term funding (3 to 4 years) for large-scale experimental research to rigorously evaluate digital financial interventions.
Eligibility:
- Research teams conducting randomized controlled trials (RCTs) or other robust evaluation methods.
- Projects should focus on impact assessment of financial solutions in underserved communities.
Grant Coverage: - Full-scale field experiments.
- Long-term impact assessments.
- Multi-country or multi-site research projects.
Expected Outcome: High-quality evidence that can inform policy decisions and financial service innovations.
