12 enterprises from the northeastern states of Mizoram, Assam and Meghalaya have been awarded with grants worth $1.4 million (approx. Rs. 8.4 Crore) by the World Bank’s Development Marketplace, which is a competitive grants programme. The grants have been provided for development activities in these enterprises.
These 12 enterprises were selected after an exhaustive screening of about 200 proposals received from organizations that were already operational in the North-Eastern states and across the country. Name and list of those 12 enterprises however are yet not been disclosed.
According to the news announced on 19th July in Guwahati, nine out of the twelve enterprises have got $ 150,000 each to kick start development projects over next 2 years. The rest three enterprises have been given $25,000 each which needs to be focused on capacity building.
Majority (7 of 12) of the enterprises awarded with grants are working in the health-care sector. The other sectors which were given the grants include education, water and sanitation and Financial services.
According to Anil Sinha, who is the Regional Head, Inclusive Business at International Finance Corporation, South Asia, arranging start-up finance for unproven models and management bandwidth is one of the most difficult tasks faced by these enterprises. The International Finance Corporation is considered World Bank’s private sector lending arm. Sinha also added that encouraging these social enterprises to grow is a big hurdle towards creating maximum impact.
SAS Poorna Arogya Healthcare, which was started in 2010 in Karnataka and is now expanding to the state of Assam, is one of the enterprises awarded with the grant. The institution provides healthcare insurances. It has partnered with microfinance organizations like Grameen Kota in order to spread the message about their services among the target audience. It also has a network of 4.5 lakh women workers.
GNRC, which has three low cost hospitals in Assam with the first one establishing in 1987 has also been awarded with the grant. The unique thing about this organization is that it makes available diagnostics tests like ECG and X-ray at 60% of the usual market cost. It even started with mobile medical vans in 2012 for people who are unable to come to the hospital due to their condition or are situated far away.
Shija Hospitals and Research Institute, which aims at making available super-specialty healthcare facilities in Mizoram at affordable rates has also been given grant. ERC, an enterprise providing eye-care services at affordable prices in Assam has also been awarded with the grant.
Grants worth $3 million have been awarded by the World Bank Development Marketplace since it was started in India in 2011.
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