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funding gap emerging markets
India

Volunteers for Development 9

  • Milaap
  • Invest in a Financial Institution
  • + 76 other investors
  • With this loan of EUR 25,750 some 86 women in Manipur can expand their weaving mill and purchase more materials.

    €25,750
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€25,750
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 2 days on 16 June 2019.

      Summary

      The Manipur region in northeastern India is breathtakingly beautiful, but it is one of the poorest states in the country. The region has a troubled history and accommodates 33 different ethnic groups. Due to the social unrest in the region, the state has difficulty attracting investors. But with natural resources in abundance, the area offers a lot of perspectives. Traditional activity, in particular, offers many opportunities for employment. 

      Weaving is one of the largest industries in Manipur, in which mainly women are active. Volunteers for Village Development, one of the field partners of local partner Milaap, focuses on strengthening this sector. At present, around 35% of Volunteers for Village Development's total customer base consists of weaving mills. 

      Local partner Milaap provides the loan. This must be paid off in 24 months. 

      Company nameVolunteers for Development 9
      CEOYuireihor Khaleng
      Founded2017-01-01
      LocationImphal
      SectorFinancial services
      Turnover€2,628,151.51
      Employees32

      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 446 lives are improved

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      We have already contributed to Volunteers for Development 9

      Ton Schroer
      Thomas Maas
      Frank Fekken
      Liesbeth Dorama
      Jos Dingemans
      + and another
      76
      investors