Volunteers for Development 10
With this loan of EUR 19,300 some 64 women in Manipur can expand their weaving mill and purchase more materials.
€19,300
3.00%
24 months
6 months
EUR
CurrencyAmount | €19,300 |
Interest | 3.00% |
Maturity | 24 months |
Repayments | 6 months |
Currency | EUR |
The project
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 name | Milaap |
CEO | Yuireihor Khaleng |
Founded | 2017-01-01 |
Location | Imphal |
Sector | Financial services |
Turnover | €2,628,848.47 |
Employees | 32 |
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 7 jobs are created
- With this investment 320 lives are improved