Mains Paper 3: Economy | Development & Employment
From UPSC perspective, the following things are important:
Prelims level: Women Livelihood Bond
Mains level: Promoting Women entrepreneurs
- The World Bank, the Small Industries Development Bank (Sidbi) and the UN Women, along with 10 wealth management firms and leading corporates has announced the launch of a new social impact bond to offer credit to rural women entrepreneurs.
Women Livelihood Bond
- The bonds, which will have a tenure of five years, will be launched by SIDBI with the support of World Bank and UN Women.
- The proposed bond will enable individual women entrepreneurs in sectors like food processing, agriculture, services and small units to borrow around Rs 50,000 to Rs 3 lakh at an annual interest rate of around 13-14 per cent or less.
- SIDBI will act as the financial intermediary and channel funds raised to women entrepreneurs through participating financial intermediaries like banks, NBFCs or microfinance institutions.