Bandhan plans to double its livelihood generation scheme by 2020

KOLKATA: Bandhan-Konnagar, the non profit associate firm of Bandhan Bank, has announced to nearly double its sustainable livelihood generation scheme by 2020 to support 1 lakh family living in extreme poverty.

Bandhan has so far supported 56000 families through its flagship Targeting Hardcore Poor (THP) programme, which was launched in 2006 with World Bank's funding of $25000.

"The programme aims to handhold extremely poor women so that they can create sustainable income source for themselves," said Chandra Shekhar Ghosh, founder of Bandhan-Konnagar.

Families headed by a women are covered under this scheme, which provides livelihood assets to destitute women. Bandhan then mentors these women to use the asset for income generation.

Bandhan provides a grant of Rs 25000-30000 per family spread over 24 months to help them create a livelihood.

Ghosh said that the NGO is getting funds from state governments in Jharkhand and Bihar for this programme. Companies like ITC, Indigo, and of course Bandhan Bank support it under their corporate social responsibility obligations.

"We look to closely work with like-minded organisations, partners and stakeholders," Ghosh said, adding that about 42,000 of 55,000 families which received support have now been graduated to get micro loans to grow business with their steady source of income.