Microcredit and microinsurance to safeguard the jobs of the destitute

By granting microcredits to the poor families of Pune and Mumbai, the Inter-Aide association enables them to create their own businesses. And it supplements this first "friendly push" with very important services.

Social and Employment

Project leader


Pune and Mumbai, India

Bruno Bonfante

50,000 € to the Selection Committee at 2007/04/03

"A first grant had been made to Inter-Aide by the Veolia foundation in 2005. Observing the good results obtained and confirmed by a thorough audit that I conducted on the spot, I believe that it is important to continue supporting this project so that the poorest families can create their businesses, enjoy job stability, increase their income, and thereby improve their living conditions."
Bruno Bonfante

Since 2005, the Inter-Aide has developed a microcredit system in Pune, a large town located south of Mumbai. To do this, it already had secured the backing of the French Ministry Of Foreign Affairs, the European commission and the Veolia foundation. One of its secrets of success is the accompaniment of its business creators, for example in the form of management training.

Thanks to this action, more than 17 000 loans, with an average value of 38 euros, have already been granted. They have enabled the born microentrepreneurs, lacking the financial resources to make the next move, to develop a considerable number of small businesses: groceries, tailors, cobblers, etc.

Health microinsurance

To continue its program, Inter-Aide wants to expand its operations in Pune and extend them to Mumbai. In Pune, it dreams of setting up a health microinsurance system: this new service will consolidate the longevity of the activities of these microbusinesses, and enable them to "weather the storm" of accidents or serious illnesses liable to compromise their loan cycle (half of the repayment failures are due to health problems). In Mumbai, Inter-Aide knows that demand is strong and the number of players in the sector is minimal.

Faced with the relevance of this new project, the Veolia foundation reiterates its support for Inter-Aide with a grant of 50 000 euros. This sum will boost the funds enabling the most destitute persons, excluded from the conventional banking system, to take their lives into their hands.