Cisco partner, the Grameen Foundation, manages the Progress out of Poverty Index® (PPI), a measurement tool that anti-poverty organizations, businesses, and microfinance institutions (MFIs) like Grameen Koota are using to empower poor individuals and households in India to become financially independent and break free from poverty.
Poverty in India is a critical problem. People living in poverty lack access to basic financial products and services like loans, savings accounts, and insurance. These services help low-income households to increase their income, save for the future, and tolerate financial shocks. Many organizations are working to help poor people, especially women, become more financially self-sufficient, but they lack data that enables them to assess whether their initiatives are working, and track poverty levels over time.
Grameen Koota provides micro-loans, banking services, insurance, and other financial programs to help poor people in India raise their standard of living and break the cycle of poverty for themselves and their families. Seventy percent of Grameen Koota’s clients live on less than US$2 a day. Grameen Koota began using the Progress out of Poverty Index (PPI), developed by Grameen Foundation, to measure the impact of its programs.
Grameen Koota now operates in 3 states in India through 200 branch offices with a goal of helping 2 million poor and low-income households by 2020. By using the PPI, Grameen Koota has been able to target clients by poverty level and geography, improving business and product efficiency while serving poor women and families in India.