BHOPAL: The World Bank has announced the launch of 2013 India Development Marketplace (IDM) program in Madhya Pradesh under which USD 1 million (around Rs 5 crore) in grants will be awarded to social enterprises for their development solutions.
Development Marketplace, supported by the World Bank is a competitive grant-based program that focuses on non-profit and for-profit development solutions that demonstrate innovative ways to address the pressing social and economic problems impacting the poor and under-served communities.
“In keeping with the government’s focus on inclusive growth, the 2013 Indian Development Marketplace Program will be rolled out in the states of Madhya Pradesh, Jharkhand and Chhattisgarh,” World Bank’s Advisor, External Affairs Sudip Mozumder told reporters.
“It is a unique platform for innovative social enterprises to scale up development solutions,” he said.
“IDM 2012 supported organizations in expanding their reach, providing better access to health benefits, and increasing incomes of low income communities.
“This year too, we hope to support unique and innovative solutions that address some of the most pressing needs of under-served communities, especially women in India, he said.
Under the program, the selected winners are given financial and advisory support to scale the impact of their work, he added. -PTI
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