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Financial Services

20 social enterprises get World Bank grant

Twenty social enterprises have been awarded grants of $100,000 each by the India Development Marketplace funded by the World Bank Group.

The Development Marketplace is a competitive grants programme seeking to support scalable, replicable social enterprise projects.

This year, the 20 projects, selected from 195 applicants, include a wide range of products and services targeted at the bottom of the pyramid in three States – Chhattisgarh, Jharkhand and Madhya Pradesh. Of the 20, seven are registered for-profit organisations, 12 have non-profit base and one operates as a hybrid.

The selected enterprises were judged on five parameters — innovation, scalability or growth potential, sustainability, social impact and gender issues.

To read the full article as it appears in The Hindu Business Line click here.