ARTH And NABARD Forge A Partnership

They are now taking a step further by forging a partnership with ARTH to co-develop a new 9 step Micro Enterprise Development Program for women.

NABARD, National Bank for Agriculture and Rural Development, an apex regulatory body for overall regulation of regional rural banks has been training SHGs through its MEDP and LEDP programs. They are now taking a step further by forging a partnership with ARTH to co-develop a new 9 step Micro Enterprise Development Program for women. The objective of the project is to develop nano enterprises in micro markets with different types of occupations in India by providing skills, market linkages and embedded credit & insurance.

ARTH is a Fintech, provides credit, payments, and insurance solutions to micro-MSME enterprises and has been at a forefront of new age alliances for credit specially to women owned businesses through hyper local markets and digital partnerships. Through this unique partnership program, selected women-led enterprises will not only be trained but also get the support to convert their skills into a profit-making micro-enterprise. Each enterprise will be developed to be – Scalable; Empowering; Sustainable and Generic. ARTH will provide financial and technical support in partnerships with specialized entities across occupations with more than half million dollars to 500 enterprises across UP impacting 2500 Households.

The project will be focussed on the state of Uttar Pradesh and the specific areas will be identified by ARTH and NABARD. The aim is to build a one-of-a-kind model which can be scaled and replicated for building effective micro and nano enterprises. An ecosystem will be put in place which shall ensure that partners with relevant knowledge, designing and training expertise are onboarded. The project also invites CSR partnerships for the knowledge and technical assistance.

Deputy Managing Director of NABARD, Shri. PVS Suryakumar said, ““The Covid-19 pandemic has caused enormous economic & social disruption. World over, innumerable enterprises have faced an existential threat. In India, many Self-Help Groups which mainly have women as members had risen to the extraordinary challenge of the pandemic by being involved in mask making, sanitizer making, running community kitchens, and raising awareness about the pandemic. In view of the untapped potential of the nano and micro entrepreneurs especially women members, we are collaborating with ARTH for providing an end-to-end fintech solution to include skilling, micro financial services, and forward linkage support to build sustainable nano enterprises.”

Said Shweta Aprameya, Founder and CEO ARTH, “We are excited to be partnering with NABARD on designing and developing a micro enterprise development program which takes care of not just occupational upskilling women but also provide startup micro capital to nano business owners that are owned by women. ARTH, which follows an advance tech and touch model for its financial services business is closely involved with the customers; will use its expertise and deep understanding to make this joint initiative successful. This is just as a start, with such models coming into effect we plan to take this template across India with knowledge and technical partners.”

Source: Business World