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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.

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

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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