The GRMF will provide grants to Developers through a competitive, transparent and rigorous two-stage Application processes. This encompasses a pre-application (Expression of Interest) as well as a full application phase.
The first stage of the Application procedure is an open prequalification process inviting potential Applicants to submit their Expressions of Interest (EoI) within a specified period. It is allowed to provide multiple EoI for eligible activities on different sites. Companies whose surface studies were funded in one Application round can apply for exploration drilling programmes in one of the next Application rounds. EoI that score over a certain threshold (70%), successfully pass the pre-qualification and will be short-listed. Short-listed Applicants will be invited to participate in a mandatory pre-bidding workshop and to submit an Application.
The 5th application round pre-qualification phase has to date been finalised.
The pre-bidding workshop will be held for short-listed Applicants after evaluation of the EoI. The aim is to ensure high-quality Applications by clearly explaining the Application, evaluation and procurement processes. For drilling Applications, mandatory training in the use of a GRMF custome-designed financial model is also integrated into the pre-bidding workshop.
In the second stage, Applications from short-listed Applicants will be accepted within a a specified period. Applications that score over a certain threshold (70%) will be eligible to enter into contract negotiations with the African Union Commission. The actual number of awards will be limited to available funding.
In the case of a successful negotiation, the Grant Agreements will be concluded between the African Union Commission and the Applicants. The Grant Agreements set requirements for the following monitoring and reporting phase for the surface studies and the reservoir confirmation drilling and testing projects as well as specifications on the disbursement of grants.