At the beginning of the year, Dasra, Omidyar Network, and The Rockefeller Foundation came together to launch the India Impact Economy Innovations Fund (IEIF).
Recognizing that impact investing – the notion of channeling investments into organizations that provide measurable environmental, social, and financial returns – in India is still without infrastructure, financing, and policy support, the $800,000 IEIF was created to award organizations that can help build the impact investing ecosystem. Aside from India, the IEIF has also been implemented in Africa, Southeast Asia, and Latin America.
“If the impact investing industry wants to grow both in depth and scope so as to provide individuals with alternative and innovative financial access, then we need to focus on building the ecosystem to impact the lives of the poor or vulnerable” said Rehana Nathoo, Program Associate, The Rockefeller Foundation.