Applications

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Eligibility Criteria: 

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Who can apply:

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• ECDC Business Units tasked with development mandates.

• Public entities pursuing economic development-related initiatives.

• Local government in relation to economic development initiatives.

• Government Departments for partnership-based developmental programmes.

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Projects, programmes, and initiatives applying for funding shall be considered on the basis of:

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• Being commercially sound (economic and financial feasibility confirmed) with private sector participation (confirmed by the time of funding).

• Employing resource mobilisation and leverage (commitment independently confirmed).

• Being private sector led and/or initiated. These programmes and projects shall access the fund through motivations screened and submitted by eligible applicants.

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Application process:

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• Funding initiatives may be identified through engagements between the public- and private sectors, industry research, feasibility studies, proposals from the private sector, etc.

• Eligible applicants are required to screen funding propositions for eligibility and compatibility to EC Economic Development Fund framework requirements.

• The eligible applicant must submit a formal written funding proposal, along with the completed applicable funding application form for the specific product, addressed to the Fund Manager.

• The Fund Manager shall acknowledge receipt of all funding applications within a period of 5-7 working days.

• A period 14-21 days shall be designated to due diligence in which periodic engagements with the applicant shall be undertaken, as well as the completion of the due diligence report.

• The time taken for due diligence shall be informed by the complexity of the application as well as the extent to which supporting technical information is readily available.

• Conditional approval shall be granted following consideration by the Funding Approval Committee (FAC) within 7 days of the final committee sitting wherein such approval was granted.

• Upon satisfaction of approval conditions precedent and conclusion of agreement by parties, the Fund Manager may release funding per the terms of the funding agreement.

• The turnaround time from date of receipt of application to granting of funding should ideally not exceed a period of 6 weeks, except in instances where extensive due diligence that necessitates extended periods of time is required.

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A typical application processing schedule can be seen below

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Submission of Applications and Supporting Documentation Required:

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• Covering application memo addressed to fund manager and signed off by unit head in the case of the ECDC or CEO/HoD in the case of external applications.

• A completed and signed EC EDF funding application form.

• Funding proposal and/or a detailed framework explaining the nature of project/programme/initiative.

• Where applicable, a due diligence/opportunity analysis/market study/financial viability study.

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Note: Any other documentation required by the Fund Manager will be requested on acknowledgement of receipt of the funding application.

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Submissions should be addressed to the Fund Manager at ECEDF@ecdc.co.za​

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