World Bank awards $2 million to 20 social enterprises

The World Bank-funded India Development Marketplace has awarded $2 million to 20 social enterprises projects in the states of Madhya Pradesh,Chhattisgarh and Jharkhand.

Written by ENS Economic Bureau | New Delhi | Published:May 2, 2013 1:58 am

The World Bank-funded India Development Marketplace has awarded $2 million to 20 social enterprises projects in the states of Madhya Pradesh,Chhattisgarh and Jharkhand. “The grantees received $100,000 each to extend and scale up their innovative business models,” the World Bank said in a statement on Wednesday.

Of the 20 selected proposals,while nearly 40 per cent offer business models to support and empower women living in low-income states,others focus on improving access to affordable healthcare,increasing the earning potential of families through environment friendly livelihoods,improve delivery of public services to under served population.

The India Development Market Initiative is aimed at identifying and providing support to replicable and financially sustainable projects. This year,the initiative received 200 proposals from across the country.

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