Kohima, February 11 (MExN): Entrepreneurs Associates (EA) launched the ‘Fund of Hope’ officially on February 11 at its head office in Kohima. The ‘Fund of Hope’ is an initiative of EA to support Self Help Groups (SHGs) in areas where there is little or no access to finance and banking. EA has been working with thousands of farmers and SHGs in taking up economic activities for enhancing their livelihood options.
The revolving fund has been started with an initial capital of Rs 20 lakhs raised by EA with the support of well-wishers – Babu Joseph and Ramesh Kacholia. EA raised funds through direct door-to-door selling of avocados, pen drives, and solar lamps. The programme was graced by Vikou Rhi, NBCC Youth Secretary, as the special guest to launch the ‘Fund of Hope.’ Mosa Tsang, the Pastor of Pochury Baptist Church Kohima, dedicated the fund.
Neichute Doulo, CEO of EA, pointed out the importance of ‘Fund of Hope’ as it is a “capital to leverage and alleviate poverty, economic deprivation, and human suffering”. He specially thanked supporters, well-wishers and citizenry of Nagaland who contributed towards raising the capital fund by purchasing avocados, pen drives, and solar lamps.
A press release issued by EA, Data and communications, Imsusenla Imsong informed that the first phase of fund was disbursed to Phom Baptist Church, Naginimora under Mon District, and 21 SHGs under SOWSORD, headquartered in Wazheho under Phek District. Access to formal credit is highly difficult in interior areas of Nagaland as there are no banks and connectivity is poor; it is this gap the fund seeks to bridge. The framework of ‘Fund of Hope’ aspires to pioneer financial accessibility for other financial institutions to support the most needy and marginalized farmers and SHGs in Nagaland.
