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September 1, 2006 |
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SKS Microfinance Launches Urban Microfinance Program in
Hyderabad, Andhra Pradesh
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Hyderabad, India � SKS launched
its first urban microfinance program today in Hyderabad, Andhra
Pradesh. The pilot program will run for four-and-a-half months, from
September 1st, 2006 to January 15th, 2007, and serve over 800
members spread across a number urban slums in the twin cities. SKS
has opened two branches in East Marredpally and Hyderguda to better
reach these populations. The program is modeled after SKS�
successful rural microfinance initiatives with minor modifications
to suit the urban environment. The program uses a similar
methodology � lending to individual members through joint liability
groups � to catalyze a number of income generating activities
undertaken by the members; including tailoring shops, tiffin
centers, general stores and bangle shops.
If the pilot is successful, SKS will roll out operations in urban
centers throughout the country. �With over 25% of the country�s poor
living in cities, it is essential that SKS work in these areas to
have a widespread and lasting impact on poverty alleviation,� said
Mansi Kohli, Project Manager, Urban Microfinance. �Through the pilot
study we hope to gain a better understanding of the urban market so
we can effectively and efficiently roll out country-wide.�
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