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India: crowd funding for sanitation and water

India: crowd funding for sanitation and water

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Published by: Crowdsourcing.org on Dec 18, 2011
Copyright:Attribution Non-commercial

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02/03/2013

 
India: crowd funding for sanitationand water
Social enterprise Milaap has set up an online microlending platform that enables anyone to give a household loan for the construction of a toiletor water connection for the poor in India. Based in Bangalore, India,with its headquarters in Singapore, Milaap was founded in June 2010 bySourabh Sharma, Anoj Viswanathan and Mayukh Choudhury.Milaap copied the basic concept fromKiva.org,the first mirco-credit crowd funding platform to improve livelihoods of the poor, butexpanded its scope to not only include micro-enterprises but alsosanitation, water, health care, renewable energy and vocational training.Whereas banking restrictions prevent US-based Kiva.org from servingclients in India, Milaap was able to gain approval from the Reserve Bank of India (RBI) to enable lenders outside India (especially Non-residentIndians or NRIs) to lend to India through their website.

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