MICROCAPITAL BRIEF: IKEA Foundation Donates $39m to United Nations Development Program’s “Swaayam” Women’s Empowerment Program in India

The IKEA Foundation, a charitable foundation affiliated with Dutch furniture retailer IKEA, recently committed a donation of EUR 30 million (USD 39 million) to Swaayam, a pilot program that aims to boost the social, political and economic empowerment of poor women in India. Swaayam provides women with financial, literacy and leadership education as well as accessing microloans through self-help groups. The five-year program is being operated by the United Nations Development Program (UNDP), a branch of the United Nations.

The new funding will be used to expand Swaayam’s outreach to approximately 2.2 million women. Since its inception in 2010, Swaayam reports that it has helped approximately 35,000 women participate in businesses, approximately 4,000 of whom have become entrepreneurs. The program has also helped 12,000 women become “financially literate.”

As of 2011, the UNDP partners with national governments of 166 countries.

By Charlotte Newman, Research Associate

About IKEA Foundation
IKEA Foundation is a charitable organization founded in 1982 by the Dutch home furnishings company IKEA. The foundation’s mission is to fund programs addressing four aspects of women’s and children’s lives: home, health, education and a sustainable family income. IKEA Foundation programs report helping approximately 100 million children worldwide. Financial information on the organization is not available.

About United Nation’s Development Program (UNDP)
The mission of the United Nations Development Program (UNDP) is to provide developing countries with knowledge, experience and resources in line with the United Nations’ Millennium Development Goals (MDGs), a set of eight goals intended to be achieved by 2015. UNDP operates in partnership with national governments in 166 countries as of 2011. Each country office of UNDP contributes to the organization’s annual Human Development Report, which is intended to provide a benchmark for development. UNDP estimates an institutional budget of USD 857 million for 2012-2013.

Sources and Additional Resources:

United Nations Development Program: Press Release: “UNDP-IKEA Foundation Expand Partnership to Build Self-Reliance of 2.2 Million Women in India,” http://www.undp.org/content/undp/en/home/presscenter/pressreleases/2012/04/10/ndp-ikea-foundation-expand-partnership-to-build-self-reliance-of-2-2-million-women-in-india.html

MicroCapital.org story, January 25, 2012, “MICROCAPITAL BRIEF: Central Bank of Liberia Launches $2.7m Loan Facility for Microfinance Institutions, Backed by United Nations Development Program,” https://www.microcapital.org/microcapital-brief-central-bank-of-liberia-launches-2-7m-loan-facility-for-microfinance-institutions-to-be-implemented-by-afriland-first-bank-backed-by-united-nations-development-program/

MicroCapital.org story, May 23, 2011, “MICROCAPITAL BRIEF: United Nations Development Program (UNDP) Convenes Discussion on Amending Microfinance Regulations in Uzbekistan,” https://www.microcapital.org/microcapital-brief-united-nations-development-program-undp-convenes-discussion-on-amending-microfinance-regulations-in-uzbekistan/

MicroCapital Universe Profile: IKEA Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=IKEA+Foundation

MicroCapital Universe Profile: United Nations Development Program (UNDP)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=United+Nations+Development+Program+%28UNDP%29

Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/

Similar Posts: