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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.

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