Objectives
The Prize aims to RECOGNIZE, ENCOURAGE, INSPIRE and REWARD women's participation in the socio-economic development process.
It aims to:
a. Recognize
- the important role of women in IDB member countries and Muslim communities globally
- contributions made by individuals or organizations to improve the socio-economic status of women in IDB member countries and Muslim communities in non-member countries
b. Encourage
- efforts to improve women's access to opportunities and resources to help them become active participants in developing their economy and society
- individuals and organizations that offer grants and resources to work towards promoting women's leadership, engagement and contribution to the socioeconomic development process
c. Inspire
- women by promoting exemplary role models
- individuals and organizations to initiate and actively engage in all projects aimed at developing women and building their capacities
d. Reward
- individuals and organizations that are committed to improving the well-being and status of women locally, nationally, and globally
- actions that reinforce and strengthen the role of women as essential contributors to society as well as effective agents of change and development
Theme and Topics
In order to highlight various issues shaping our world and their specific effects on women, the theme of the Prize varies each year and is further specified into topics for the individual and organization categories.
The Theme for the 1439H/2018 Prize is "WOMEN'S CONTRIBUTION TO PROMOTING PEACE AND STABILITY"
Award
The Prize consists of two cash awards;
a) U.S. $ 50,000 for a woman or a group of women
b) U.S. $ 100,000 for an organization
The Prize is awarded during the Annual Meeting of the IDB Board of Governors.
Criteria
The general criteria applied in selecting and assessing nominations for the Prize for both individuals and organizations include the following:
Impact
Individuals and organizations nominated should exhibit projects that have contributed to the improvement of the socio-economic status and well being of society.
Creativity
Individuals and organizations nominated should have projects/activities that are outstanding, innovative and unique
Outreach
Individuals and organizations nominated should have mechanisms for expanding their projects/activities to surrounding areas to ensure their services are offered to as many beneficiaries as possible.
Sustainability
Individuals and organizations nominated should have projects/activities that are sustainable
Prize Process
The Prize is administered by the IDB through the Capacity Development Department in consultation with the IDB Women's Advisory Panel and in collaboration with its academic advisor, Effat University. The processing of the Prize involves the following steps:
- The IDB in consultation with the IDB Women's Advisory Panel determine the yearly theme for the Prize.
- The IDB refines the theme and topics, establishes the specific criteria of selection and develops the nomination forms.
- The IDB publicizes the Prize and receives nominations.
- An independent screening committee is established by the academic advisor to short list nominations.
- An independent Selection Committee is established by the IDB to select winners of the Prize from the short listed candidates.
- The winners are announced during the Annual Meeting of the IDB Board of Governors.