At the same time as Partex opens their office in India Partex have decided to support Hand in Hand’s work in India which is focused on poverty reduction through the creation of new jobs. Hand in Hand, managed by Percy Barnevik, has shown that job creation is a highly effective development tool and that micro-entrepreneurs, creating and running small businesses, are key drivers for economic growth.
Hand in Hand’s work in India and Africa shows that when given support and training, women living in poverty can develop into successful entrepreneurs running small family companies. Women are usually the guardians of their children’s future and demonstrate a high level of responsibility when given the opportunity to invest a micro credit in their businesses. Research shows that on average, women who live in poverty use 92 cents of each extra dollar of income to improve their children’s health and education. Hand in Hand provides microfinance loans via a group-lending model. Repayment of the disbursed micro credits is 99,4%
Hand in Hand have reached impressive results after 7 years of work in India. 850.000 women have been mobilized in Self Help Groups creating more than 1,16 million jobs. This means that hundreds of thousands of children have been brought back from labour to school. On top of that almost 3 000 citizen centres/IT facilities have been established, health checks for 290 000 people have been carried out under the Health and Hygiene Programme and 307 000 households are covered by waste management under the Environmental Protection Programme.
We at Partex will finance Hand in Hands work in the small Indian village Panapuram. Panapuram has around 3.600 inhabitance and is located near Bangalore, where Partex India has their facilities. In total the project will last for two years and we will report its progress every three months. The reporting of the project will be dealt by our three “Partex ambassadors”: Anne Katrine Åhlén Grundel (Partex Sweden), Johnathan Pilling (Partex UK) and Tomasz Dembkowski from Partex Poland. Sophie Lööf, part owner of Partex, will also be involved with the project.
The first task of the ambassadors is to visit Panapuram in March.
More information will follow…
For additional information about the project, please contact:
Sophie Lööf, Partex Marking Systems
Phone: +46 (0)551 20100