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Indian Cooperative Improves Market Access
02-02-2012
Indian agricultural cooperative Pragathi Mutually Aided Cooperative (MACS) can now bring its dairy farmer members closer to the milk market, thanks to a grant from Rabobank Foundation.
The funding will allow Pragathi MACS to expand and improve its milk procurement project by buying dairy farming infrastructure, training its members and employing qualified staff. The project will assist Pragathi in supporting its 2,500 female members, who each own at least one milk-producing animal.
The INR 8.6 million (€ 123,000) grant was awarded after Oikocredit’s Indian subsidiary, Maanaveeya Development & Finance, approached the foundation to stabilize organizations in light of challenges in the development finance sector. Maanaveeya assisted representatives of the cooperative in preparing the grant application to the foundation, and will continue to monitor and support the progress of the project. In addition, Maanaveeya disbursed an Oikocredit loan of INR 50 million (€ 758,000) to assist Pragathi MACS in delivering all aspects of the dairy project for its members.
Pragathi MACS is not the only Indian organization that can look forward to assistance from Maanaveeya in facilitating grants. At least two more projects are expected to receive grants from Rabobank Foundation this year.
Read more on Oikocredit goes beyond finance with capacity building and Social Performance Management.
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Events
Africa - Middle East Regional Microcredit Summit
Date: 7th to 10th April 2010
Venue: Kenyatta International Conference Centre, Nairobi Kenya
Role of Oikocredit - Sponsorship of the event in form of cash; Ging Ledesma Social Performance Manager in Social Performance Plennary session on Day 2
Participants from Oikocredit: Tor, Ging, Judy, Carol, Deus, Edith, Peter, RM Francophone West Africa, RM English speaking West Africa, CM Ghana
Side events: Oikocredit Exhibition stand