Mumbai, Oct 22 (UNI) Kubera Partners, a US-based private equity firm, today announced a tie-up with Edelweiss Capital to launch a unique Corporate Social Responsibility Initiative--Kubera-Edelweiss Social Innovation Honours (KESIH).
Under KESIH, to be managed by EdelGive Foundation, the not-for-profit subsidiary of Edelweiss, seed funding of upto 60,000 dollars will be given to three non governmental organisations (NGOs) working to improve the status of girl child. The selected NGOs can use the funds either for their on-going projects or to start new projects, it was announced at a media gathering here today.
Speaking about the selection process, the officials of KESIH said that it would involve a stringent process of review, consisting of initial shortlisting by an internal jury, following which a final approval by an external jury of eminent panelists, including Sheriff of the city and Principal of H R College of Commerce Indu Shahani, eminent lawyer Zia Mody and development economist -- Devika Jain, will be needed.
To further ensure transparency and accountability in the selection process, EdelGive Foundation will work with Tata Institute of Social Sciences as field partners for the project.
Speaking on the occasion, Kubera Partners Managing Director Ramanan Raghavendran said, ''The 2001 census indicates that gender ratio in the country has dropped to 927 females to 1000 males. Over 50 per cent of girls fail to enroll into schools and a significant percentage of those who do, drop out by the age of 12. It is because of this that we have decided to focus on the cause of the girl child.'' UNI GS RN MP SB KN1922