The MUKTI Community Development Fund (MCDF) program is targeted at women empowerment and creation of women entrepreneurs in villages. MUKTI strongly believes that an ideal village is one where women have significant empowerment to take decisions. Moreover, women should not be economically idle. This is where MCDF comes into the picture to enable women to pursue their own small-scale business. MCDF’s success led to opening of new branches in Purbasidhapur, Raidighi, Sonatikari, Radhakantapur, Kultali, and Sagar in South 24 parganas district in the Sunderban area of West Bengal, India. This area is one of the poorest districts of India, lacking basic amenities and infrastructures. We are expecting to provide better service to the people of this locality by establishing new livelihood trainings. Microcredit tends to have high interest rates because Microfinance institutions (MFIs) that fund these loans borrow from banks at high interest rates. Besides, loans for basic necessities like sanitation, drinking water and vocational training are not easily available as they need to be at low interest rates. Thus, the need is for availing low-cost loans. To achieve this, MCDF requests individuals to become social investors instead of donors. Firstly, by sourcing funds from all over the world, MCDF can provide cheaper credit (half of the existing interest rate) to the rural women. Secondly, the money they get in the form of loans does not hurt their dignity – as it is not a donation. Lastly, they tend to be serious & more passionate for their business as they have to repay the loan – which sometimes is lacking in the case of donations.
Presently MUKTI has a total of 300 women Self-help groups (SHGs) comprising of 4000 members who are working hard to achieve women empowerment. They are helped by 40 MUKTI members known as “friends” in different regions.
We thanks the investors who selflessly contribute their time and money for society and needy people. We are determined to make this world a better place by helping out people who needed assistance, so that they can live a better life with financial stability.
Please read more on the model of MCDF at www.muktiweb.org/mcdf/about_mcdf.php.