First investment? Get €500 guaranteed with code GOODSTART.
Find out how
funding gap emerging markets
India

Mahashakti Foundation

  • Milaap
  • Invest in microfinance
  • + 75 other investors
  • With EUR 44,200 the Mahashakti Foundation will enable more families access to solar energy in India.

    €44,200
    Amount
    3.00%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€44,200
    Interest3.00%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 1 day on 28 September 2016.

      The project

      Mahashakti Foundation was founded as a public charitable trust in 2004. They operate in one of the most financially poor States in India - Odisha where 91% of the population resides in villages, and 39% belongs to tribal communities where the average daily income is below $1. The foundation covers six of the most underserved districts here.

      Against this backdrop, the organization started a Solar Energy programme in 2012, amongst their existing programmes. Mahashakti builds and operates micro-grids, solar lights, charging stations and improved smoke-free cookstoves. As of August 2016, they have been successful in helping 17,839 borrowers and their families access alternate sources of energy. Solar powered lighting has improved the general quality of life in the region where most households face power-cuts on a daily basis for atleast 2 hours, hampering their productivity. The beneficiaries have reduced expenses on traditional sources of lighting such as kerosene, increased economic activity through extension of working hours, fewer health issues arising from toxic kerosene and cow-dung fumes, and higher literacy rates as children can study after sunset.

      Milaap partners with Mahashakti Foundation and Lendahand to bridge the need for financing to fund their projects. They currently need funds to take one step further and increase their reach to cover more energy deficient districts across the State. The loan must be repaid in 12 months. 

      Company nameMilaap
      CEOJugal Kishore Pattnayak
      Founded2004-01-01
      LocationOdisha
      SectorFinancial services
      Turnover€272,601.63
      Employees203

      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 4 jobs are created
      • With this investment 16 lives are improved

      Sorry! You must be logged in to view this page.

      Sorry! You must be logged in to view this page.

      Sorry! You must be logged in to view this page.

      Sorry! You must be logged in to view this page.

      Sorry! You must be logged in to view this page.

      We have already contributed to Mahashakti Foundation

      Robert Schellekens
      Rein Goedkoop
      Corné de Haas
      Suzan van der Meij
      Leendert Smit
      + and another
      75
      investors