The Microcredit Summit Campaign welcomes Grama Vidiyal, a major Indian microfinance institution (MFI), as the 55th organization to make a Campaign Commitment, joining a global coalition working to help 100 million families lift themselves out of extreme poverty.
Grama Vidiyal commits to expand its financial and non-financial services to the following number of clients in the financial year 2015-2016:
- Provide an additional 150,000 clients with financial services in FY15
- Help 1,050,000 community members through Grama Vidiyal’s empowerment program.
- Organize 720 health camps for clients, screening 300,000 members.
- Provide 10,000 clients with discounted consultation/treatment in partner hospitals.
- Provide health education to 80,000 client families (or community).
- Give access to health related products and medicines to 150,000 clients.
- Help 800,000 clients with the Free Meals program.
- Install 1,000 household toilet connections and 4,000 water tap connections.
- Establish 80 Community Knowledge Centers, engaging 30 poor students each (a total of 2,400 students), to motivate learning basic math and English.
- Help 500,000 clients with the Health Service and Development Program that provides sanitary napkins for women.
- Use the Progress out of Poverty Index to measure the poverty level of 35,000 clients.
Sathianathan Devaraj, chairman and managing director of Grama Vidiyal, explains the importance of microfinance as a means to financial inclusionhealth:
“Microfinance is a very important tool for financial inclusion, which provides financial services for poor entrepreneurs and small businesses lacking access to formal banking and related services. Microfinance creates a window for the poor where they can access quality financial services such as credit, savings, insurance etc., without inhibition. A double bottom line approach with the right balance of fiscal performance and positive social impact is key to the microfinance’s success. Formal banks identified and promoted bankable people, but microfinance introduced and proved that even the poor are trustworthy and bankable.”
Grama Vidiyal is one of the largest Indian microfinance institutions, serving one million clients over 5 Indian states. Their objective is to focus on eradication of poverty and improving the standard of living of downtrodden women.
Read Campaign Commitment letter from Grama Vidiyal.
The Microcredit Summit Campaign looks forward to welcoming our new partners to the global coalition and sharing their progress towards the Commitment achievement at the 18th Microcredit Summit. The Campaign’s 100 Million Project is building a movement among financial service stakeholders committed to helping to end extreme poverty through: public statements of commitment to action, expanding practices to reliably measure movement out of extreme poverty, and promoting innovations and best practices to accelerate movement out of poverty.
We invite you to join Grama Vidiyal and…
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Join the movement to help 100 million families lift themselves out of extreme poverty:
- State your Campaign Commitment by filling out the Online Commitment Form or by contacting us at mycommitment[at]microcreditsummit.org
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