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funding gap emerging markets
India

Mahashakti Foundation 4

  • Milaap
  • Invertir en microfinanzas
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  • With EUR 15,000 the Mahashakti Foundation can provide loans to mothers in order to pay their childrens' tuition fees.

    €15,000
    Importe
    3.00%
    Interés
    24 meses
    Vencimiento
    6 meses
    Reembolsos
    EUR
    Moneda
    Importe€15,000
    Interés3.00%
    Vencimiento24 meses
    Reembolsos6 meses
    MonedaEUR
      100%
      Completamente financiado en 6 díasen 14 Diciembre 2016.

      El proyecto

      Odisha houses few of the most financially backward families in India. Communities from Khurda district in rural Bhubaneshwar, Odisha slums lack even the basic amenities such as personal water connections and toilets.

      A typical household in this setup consists of four members on an average- wife and husband, and their two children. The women of these households are homemakers, or are engaged in small-businesses such as tailoring, incense stick making, petty shops or beauty parlours, while the men are usually away, working in nearby towns and cities as carpenters, drivers, construction workers and daily wage labourers. The women and men of these households together are able to bring in no more than $90-$150 per month.

      The younger members of this community go to local government schools as their parents now understand the importance of education, and wish for their children to have greater opportunities than they had themselves. For higher education, students have to travel 1-2 hours every day to a nearby town. Life remains full of tough challenges for these children despite their exposure to education. The cramped houses with little to no ventilation do not make for ideal places to study. Additionally, the girls do not receive the same kind of support for pursuing their education and are often expected to help out with household chores.

      In spite of these hardships, the children and their supportive parents have not relinquished their dreams and aspirations. Milaap, through its partnership with Mahashakti Foundation, will provide mothers from Khurda education loans for their children- to be able to fund their tuition fees, stationery needs, textbooks, school uniform etc. Local partner Milaap provides a loan to the Mahashakti Foundation that must be repaid in 24 months.

      Nombre de la empresaMilaap
      Director generalJugal Kishore Pattnayak
      Fundado2004-01-01
      UbicaciónOdisha
      SectorServicios financieros
      Volumen de negocio€281,054.98
      Empleados203

      Impacto

      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.

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