Money & Banking

Corp Bank, NGOs in pact for youth enterprise development

Our Bureau Mangalore | Updated on June 08, 2011 Published on June 08, 2011

Corporation Bank, the London-based Commonwealth Secretariat, and four NGOs, have signed a memoranda of understanding for economic and social inclusion of youth through enterprise development.

Women entrepreneurs

A bank release said here Corporation Bank-Commonwealth Secretariat Youth Enterprise Financing Programme, aims to support women entrepreneurs.

It said a two-day development programme was conducted on June 6 and 7 in Bangalore. The stakeholders such as Shri Kshetra Dharmasthala Rural Development Programme (SKDRP), NTR Memorial Trust, Drishtee Foundation and Dhan Foundation, attended the programme.

During the course of the programme, Memoranda of Understanding were exchanged between Corporation Bank, Commonwealth Secretariat and all the stakeholders.

Speaking to stakeholders at the development programme in Bangalore, Mr Ramnath Pradeep, Chairman and Managing Director of Corporation Bank, said, “This is an exceptional opportunity for Corporation Bank to develop thought leadership in the area of assisting young women entrepreneurs. I urge all stakeholders on this project to immediately commence the specific lending programmes in each of the pilot locations. It is our responsibility to turn these young women from job seekers to job creators.”

The release said Corporation Bank is lending Rs 14 crore for this initiative at concessional rates of interest.

Commonwealth Secretariat, which is partnering with Corporation Bank, is providing technical assistance through training support and capacity building. This project aims to assist 2,500 women entrepreneurs on this pilot project, the release added.

Published on June 08, 2011
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