Pipeline ID: INDIGO-PL-0142
Dignity in Labour platform is a multi-stakeholder blended finance facility that will connect vulnerable, new-to-credit customer groups to suitable lending partners and enable access to relevant government social security programs for all workers that interact with the facility. The platform aims to assist ~10K workers across five user groups: artists, aspirational youth, self-employed individuals, migrant workers, and e-rickshaw drivers. Platform offers fit-for purpose loan products to these groups and provides technical assistance to help them access social security schemes. It also assists them in acquiring requisite KYC compliance documentation.
This project started with a pilot "Labor Dignity Bond" in 2021. The pilot was a working capital facility that pooled concessional debt from private investors, aiming to promote the ethical treatment of construction workers by micro-contractors, culminating in a loan book of around $265K.
The Dignity in Labor Platform is a scaled-up version of the pilot and will utilize both concessional and grant capital to support its interventions. It is projected that the facility will support ~10K users with a loan book of $2 Mn over a three-year period, with 9.1 times leverage. The structuring of the Platform has been completed, supported by a grant from the Catalytic Capital Consortium.
Data for this pipeline project was last updated in August 2023
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