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Indian Cooperative Improves Market Access
Oikocredit, is a private 35 year old global Development Financing Institution that responds to the needs of businesses that create income for financially disadvantage people and contribute to the local community development.
Established in 1994, the Regional Office East Africa is based in Kenya. It covers countries like Kenya, Tanzania and Uganda, benefiting many small entrepreuners and clients
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News
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.