Kudumbasree lending touches Rs.3,800 crore

THIRUVANANTHAPURAM: The Kudumbasree State Poverty Eradication Missions internal lending for its members and micro enterprises has reached a whopping Rs.3,800 crore over the last 12 years on a thrift fund base of Rs.1,300 crore.

The Kudumbasree Mission, which has turned 12 years, has also succeeded in channelising bank loans to the tune of Rs.995 crore for micro-enterprises under its umbrella.

As many as 1.40 lakh out of the 2 lakh Neighbourhood Groups under the mission have benefited from the credit facilities extended by it. The missions experience with loan repayment was also impressive with individual members, micro-enterprises and Neighbourhood Groups registering 90 to 100 per cent repayment rate, Local Self-Government Minister Paloli Mohammed Kutty and Kudumbasree Mission director Sarada Muraleedharan told a news conference here on Friday.

The Minister said the mission had spent Rs.121.88 crore on poverty eradication during 2009-10, more than double the amount spent during the previous year. Under the �Ashraya scheme, the mission was able to ensure rehabilitation of as many as 68,385 abjectly poor persons at a total expenditure of Rs.75.66 crore