France created 'Le Fonds d'innovation pour le développement' (The Innovation Fund for Development) to support innovation in the field of global development on technical, social, financial, environmental, and governance-related approaches. The fund launched its first call for proposals and has a budget of €15 million (US$18 million) for its first year.
The fund is headed by Esther Duflo, winner of the Nobel Prize in Economics, and the call for proposals is open to governments, research centers, civil society organizations, and the private sector. Priority will be given to projects that spur innovation in low-income countries, especially France's 19 priority partner countries, most of which are located in Sub-Saharan Africa.
The fund is part of a larger effort to modernize French development policies in the framework of a new law on "solidarity development and the fight against global inequalities" being currently discussed at Parliament whose rapporteur is Member of Parliament Hervé Berville.