MICROCAPITAL BRIEF: Parinaam Foundation of India Launches Financial Literacy Program in Tribal Communities of Garo, Jaintia, Khasi

The Parinaam Foundation, a nonprofit organization that provides social services to women in India, has partnered with the World Bank Group, a group of five multilateral organizations that invest in developing countries, and the government of the Indian state of Meghalaya to offer a financial literacy training program to individuals in three tribal communities: Garo, Jaintia, and Khasi.  The foundation has trained 24 “master trainers,” who will facilitate the programs, which will be offered in a total of 45 villages. Parinaam expects that the trainings will be attended by approximately 2,250 participants.

As of March 31, 2014 Parinaam reported total assets of INR 38 million (USD 600,000).

By Makai McClintock, Research Associate

About Parinaam Foundation:
Parinaam Foundation is an Indian nonprofit organization providing social services to poor women and their families in the areas of healthcare, education, professional development and community development. Parinaam was incorporated as a nonprofit in Bangalore, India, in 2008. As of March 31, 2014 Parinaam reported total assets of INR 38 million (USD 600,000).

About World Bank Group (WBG):
Headquartered in the US, the World Bank Group (WBG) is a multilateral development organization that aims to improve living standards for people in developing countries. As of 2014, WBG encompasses the International Bank for Reconstruction and Development (IBRD), owned by 188 member nations; the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID). WBG has 10,000 employees and operations in approximately 120 countries as of 2014. WBG had commitments of USD 52.6 billion in loans, grants, equity investments and guarantees as of December 2013.

Sources and Additional Resources:

Information provided by Parinaam Foundation to MicroCapital via Email

MicroCapital Universe Profile: Parinaam Foundation

MicroCapital Universe Profile: The World Bank Group (WBG)

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