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funding gap emerging markets
India

Youth Volunteers' Union 2

  • Milaap
  • Invest in a Financial Institution
  • + 12 other investors
  • WIth EUR 6,800 YVU Microfin supports women in these areas and will help uplift 30 women and their families.

    €6,800
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€6,800
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 22 hours on 10 January 2017.

      Summary

      Manipur is one of the ‘seven sisters’ in the Northeastern region of India. The state is breathtakingly beautiful but happens to be one of the most impoverished states in the country. The region has had a very volatile history, and continues to be fraught with problems relating to insurgency. Against this backdrop, Manipur houses several underserved communities- majority of which have tribal ancestry. The area lacks even basic infrastructure in some places.

      Youth Volunteers’ Union (YVU) is primarily a social service non-profit operating in north-eastern India since 1972. Powered by young men and women volunteers, it undertakes programs, such as agriculture development, watershed programs, lift irrigation projects, and environment and social issues awareness creation among local communities.

      YVU started its microfinance operation called YVU Microfin in 1996 to drive self-sustainability and greater ownership of these programs by communities. YVU Microfin provides impoverished locals with credit to develop and build their own microenterprises and uplift themselves. It works towards financing this enterprise development and progress among women from underprivileged communities in Assam and Manipur.

      Currently, women from Imphal East in Manipur are seeking a loan to invest in their respective micro-enterprises. These women mostly work on their small traditional weaving enterprises where they make shawls called mekhala chadors, loin cloths and bed spreads. In addition to weaving, tea-stalls and small cafes are also a popular choice of business that a lot of these women run. These women will purchase raw materials for their businesses- looms for weaving, different varieties of threads, inventory items for their tea-stalls such as tea, sugar, snacks etc. Through its partnership with Milaap, YVU Microfin supports women in these areas, uplifting them from poverty- the loan will help uplift 30 women and their families.

      Company nameYouth Volunteers' Union 2
      CEOBikendrajit Akoijam
      Founded1996-01-01
      LocationAssam and Manipur
      SectorFinancial services
      Turnover€347,378.40
      Employees230

      Impact

      Milaap is the largest crowdfunding platform in India, enabling stories of hope, courage, and change. They provide credit services to the poor and excluded to help them to work themselves out of poverty.

      Milaap partners with a range of credit-worthy field partners who hold a strong social mission. They grant loans for energy projects, water access, artisan supply chains, and more, mostly in rural areas. Many of their projects empower women entrepreneurs, mainly providing working capital to women with a weaving enterprise, small shops, or handicrafts.

       

      SDG’s impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No poverty

      SDG 3. Good health and well-being

      SDG 5. Gender equality

      SDG 6. Clean water and sanitation

      SDG 8. Decent work and economic growth

      SDG 10. Reduced inequalities

      Read more about the impact you can make through our platform and the SDGs on our impact page.

      • With this investment 5 jobs are created
      • With this investment 20 lives are improved

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