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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.

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

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

 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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