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VillageInvest SIGNED

Village Invest: Low Cost Loans for Unbanked People in Risky Political Economies

Total Cost €

0

EC-Contrib. €

0

Partnership

0

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 VillageInvest project word cloud

Explore the words cloud of the VillageInvest project. It provides you a very rough idea of what is the project "VillageInvest" about.

uses    anthropological    though    incapacity    untangle    place    microfinance    ethnographically    tool    option    replicate    risky    social    accountability    platform    marginalised    primarily    prototype    loans    asia    unbanked    proof    drawing    communities    environments    start    labourers    muscular    investments    corruption    commercially    spiralling    framework    transparency    lowers    bossism    inc    south    derives    consist    people    unaccountability    enterprise    chronically    groups    poor    model    investigation    politics    rating    countries    models    rates    tremendously    administration    economies    systematic    operate    aisma    lack    bonded    cultures    local    create    expertise    period    accountable    borrowers    moneylenders    platforms    innovative    village    generations    inability    eighteen    charge    world    debts    alternative    lending    ready    feasibility    loan    india    pilot    tests    assistance    exorbitant    digital    online    sectors    direct    political    viability    commercial    invest    risk    replicated    connection   

Project "VillageInvest" data sheet

The following table provides information about the project.

Coordinator
UNIVERSITY COLLEGE LONDON 

Organization address
address: GOWER STREET
city: LONDON
postcode: WC1E 6BT
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country United Kingdom [UK]
 Total cost 145˙926 €
 EC max contribution 145˙926 € (100%)
 Programme 1. H2020-EU.1.1. (EXCELLENT SCIENCE - European Research Council (ERC))
 Code Call ERC-2017-PoC
 Funding Scheme ERC-POC
 Starting year 2018
 Duration (year-month-day) from 2018-09-01   to  2020-02-29

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    UNIVERSITY COLLEGE LONDON UK (LONDON) coordinator 145˙926.00

Map

Leaflet | Map data © OpenStreetMap contributors, CC-BY-SA, Imagery © Mapbox

 Project objective

Drawing on research from AISMA (An Anthropological Investigation of Muscular Politics in South Asia) on systematic corruption and bossism we propose to develop a proof of concept which tests the technical feasibility and commercial viability of an innovative online digital lending platform (‘Village Invest, Inc.’). The proof of concept will take place over an eighteen-month period. The pilot testing will be conducted in India. ‘Village Invest’ is a start-up social enterprise that aims to provide low cost loans to marginalised groups in risky political economies. The incapacity of the current microfinance model to reach out to these sectors has been widely recognized. Local moneylenders often remain the only option. However, they charge exorbitant interest rates, spiralling the debts across generations and making them into chronically poor or bonded labourers. What is required is an alternative lending model which uses digital technology to reach out directly to unbanked people. This direct connection lowers costs tremendously, while increasing transparency and accountability. The inability of existing online lending platforms to operate such model in countries like India, derives primarily from the lack of enabling environments: how does one replicate a direct lending system in countries with widespread cultures of unaccountability? This is the challenge that AISMA research expertise will help to untangle though the development of a risk management framework which will consist of: (1) an ethnographically driven Risk Rating Tool, to identify loan-ready borrowers; and (2) a Technical Assistance Package, to build both borrowers and communities knowledge in loan administration. If commercially viable our model will create a prototype for accountable and high impact models of social investments to be replicated across the world.

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The information about "VILLAGEINVEST" are provided by the European Opendata Portal: CORDIS opendata.

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