Translate this page

English Arabic French German Greek Swahili Turkish

20 August 2017 / 27. Zil-Qad 1438

NEWSWIRE: Wheels of Fortune

Posted on Fri, 2016-09-30 10:06

We have started an exciting microfinancing project in the transport industry! 

We are currently working with India Federation to help young people in India start-up Uber and Ola businesses. These two companies are amongst the most popular transport providers where individuals can earn money as independent contractors by giving rides to customers.
 
The unemployment rate amongst the youth in India is particularly worrying and is one of the driving forces behind this self-sustaining opportunity
 
We intend to fund the purchase of cars for those whom we have vetted as deserving applicants and allow them to set up individual transport businesses. These car owners will receive the funds as interest-free loans, with a monthly repayment over 2 years.
 
The lifetime of the cars is approximately 7 to 9 years and this gives the owners plenty of time to uplift and establish the situation of their families. Once the loans are paid back, we intend to recycle the new funds back into the project to give new applicants a similar chance to provide long-term stability for their families.
 
For more information about this project and our previous work in India, please click here.

To donate to this cause, please click here
(search for Micro-Finance)

Related News


The World Federation’s Ramadhan Relief Fund 1436 is hard at work distributing food baskets, cash gifts and other aid to families living in Afghanistan, Bangladesh, Bosnia, Djibouti, India, Iraq, Kenya, Madagascar, Pakistan, Palestine, Tanzania and Uganda.


Donations made to The World Federation’s PAKISTAN RELIEF FUND go a long way in helping those who live in severe poverty across Pakistan. Thanks to the support of donors from around the world, 21 new families comprising 139 individuals were gifted a new home complete with lavatory facilities across 7 villages in Pakistan’s subdivision of Tando Bago.


On Tuesday 2 June 2015 (15th Shabaan 1436), Shan-E-Abbas Hassam, Councillor and Head of International Development, gave an update on The World Federation's Yemen Emergency Appeal.