Livelihood and Micro finance Promotion Fund (LAMP FUND)
The primary purpose of the fund is to promote and support micro finance and livelihood initiatives, as well as community based organizations and community based micro-finance institutions in India. The use of this fund focused on attaining long-term sustainability and contributes to positive outcomes in terms of the promotion of micro finance as a means of livelihood promotion and rural poverty reduction.
The overall goal of the LAMP Fund is:
To contribute to the improvement of the livelihood situation in rural India, especially for the disadvantaged sections of the society, through developing products and supporting financial services to small NGO microfinance institutions (NGO-MFIs), as well as community owned microfinance institutions (CO-MFIs).
The objective of the LAMP Fund is pursued in two major thrusts, each addressing the target clients from the same angle to achieve the desired goal:
- To build the capacity for broadening the offering of the NGO/ CO-MFI from micro-credit to livelihood promotion support through networking with other financial institutions and service providers (such as for training, IT, Insurance, livelihood promotion), as the NGO/ CO-MFI begins to graduate.
- To provide access to Financial Services to small and upcoming NGO microfinance institutions (NGO-MFIs) run by NGOs as well as community owned microfinance institutions (CO-MFIs).