Innovative units receive World Bank assistance
Updated: May 02, 2013 05:42:41pm
New Delhi, May 2 (KNN) Twenty social enterprises have received Rs 54 lakh each from World Bank to scale up their innovative business models in the states of Madhya Pradesh, Chhattisgarh, and Jharkhand.
“The call for proposals was launched in January and received nearly 200 proposals from organizations already operating in these three states, as well as from across the country. These organizations have developed business models to expand access to basic services such as livelihood and employment, education, women and child welfare, agriculture, energy, health care and financial services,” said World Bank in a press release.
Among the 20 selected enterprises 40 per cent had innovative plans for women living in low income group. Others ideas included promoting healthcare, increasing income with the goal of improving environment and using technology in new ways to improve the delivery of key social, health and education services to underserved populations.
World Bank has instituted India Development Marketplace (DM) fund for the purpose.
“The World Bank Group is committed to supporting innovative models and programs that support underserved communities, particularly in low-income states. The DM provides an opportunity to understand what works and under what conditions as a means to improve services to the poor,” said World Bank country director Onno Ruhl.
The proposals of these enterprises were judged on the parameters of social impact, sustainability, growth potential, and innovation.
In order to accelerate the impact of these organizations, the World Bank will provide capacity building support services over the next 18 months. They will undergo business mentoring, and receive technical assistance in such areas as business development, financial management and strategic planning.
It will also help these enterprises identify additional local partners to expand their reach and sustainability. (SK/KNN)
“The call for proposals was launched in January and received nearly 200 proposals from organizations already operating in these three states, as well as from across the country. These organizations have developed business models to expand access to basic services such as livelihood and employment, education, women and child welfare, agriculture, energy, health care and financial services,” said World Bank in a press release.
Among the 20 selected enterprises 40 per cent had innovative plans for women living in low income group. Others ideas included promoting healthcare, increasing income with the goal of improving environment and using technology in new ways to improve the delivery of key social, health and education services to underserved populations.
World Bank has instituted India Development Marketplace (DM) fund for the purpose.
“The World Bank Group is committed to supporting innovative models and programs that support underserved communities, particularly in low-income states. The DM provides an opportunity to understand what works and under what conditions as a means to improve services to the poor,” said World Bank country director Onno Ruhl.
The proposals of these enterprises were judged on the parameters of social impact, sustainability, growth potential, and innovation.
In order to accelerate the impact of these organizations, the World Bank will provide capacity building support services over the next 18 months. They will undergo business mentoring, and receive technical assistance in such areas as business development, financial management and strategic planning.
It will also help these enterprises identify additional local partners to expand their reach and sustainability. (SK/KNN)
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