New Delhi: ChildFund India and a NBFC Grameen Impact Investments India has launched bond’s for women empowerment in Maharashtra and Madhya Pradesh.
This is the world’s first domestically funded Sustainable Development Goals (SDG Bond), ChildFund India said in a statement.
The Women Holistic Empowerement and Enhanced Livelihood (WHEEL) Impact Bond will help 2000 tribal women in these two states.
The bond seeks to help these women become self reliant by providing training of poultry business. It aims to achieve an annual income of Rs 30000 for these women through this intervention.
ChildFund will implement this project by utilising Rs 7.5 crore fund committed by Grameen Impact.
“ChildFund is indeed privileged and proud to launch the first domestically funded SDG Bond focused on women empowerment and livelihood. I am grateful to Grameen Impact for its partnership and resources that they bring to the table,” said Neelam Makhijani, CEO &Country Director, ChildFund India.
Royston Braganza, CEO of Grameen Impact, said “It is estimated that over $30 trillion is needed to meet the global SDGs target. We believe this can only happen when government, corporate funding, capital markets and philanthropy join hands.
The world is looking at India which is now a global leader in social innovation and impact investing. We at Grameen Impact are delighted to come up with an innovative financing instrument, focused on the SDGs, which uniquely combines impact investing, CSR and social enterprises.”
ChildFund India is a part of ChildFund International – a child protection and development organization working in 25 countries and annually assisting around 18 million children, youth and their families globally.
For over 6 decades, ChildFund India has been working with underprivileged children, youth and families from the most remote and extremely backward areas.
ChildFund India annually reaches nearly 3 million children, youth, and their families across 15 States through its long-term programs by investing nearly 60-70 crore per annum.
Grameen Impact India is a RBI registered NBFC focused on lending to enterprises engaged in social sector.