India
Financing granted
Loan of € 2M *
(equivalent in local currency)
Foundation partner
since January 2024
*Outstanding amount at grant value
Partner website
Context :
India is the world’s fourth-largest agricultural producer. The primary sector employs around 47% of the working population and accounts for almost 18% of GDP. Over 70% of the population is still rural. However, the extreme weather events of recent years are a major factor in the fall in farmers’ incomes.
The institution :
Light Finance is a Tier 1 microfinance institution that was set up in 2013 by Mr Deepak Amin, an experienced banking professional who wanted to create a socially-oriented business in his home country. Light currently only grants loans under the group methodology.
Impact:
To develop products, raise capital and deploy technology, in an efficient and innovative way, in order to provide an extremely reliable and high level of customer service. Light Microfinance has a gender and poverty-focused program, targeting rural and peri-urban areas, with a particular emphasis on poor women.