By Nikhil Kaushal, Rang De Team
Our field partner Hope IRDS has informed that the repayments for all flood affected borrowers from Mantralayam, Kurnool (AP) will start from 29th of March 2010.
Manthrlayam & Yemmiganur were hit by a massive flood last year and around 50 Rang De borrowers along with thousands of others suffered major loss of business and assets. Thankfully none of our borrowers have lost their lives. Do read our updates on the flood in the blogposts below:
- The flood situation in Kurnool — Update 1 — October 8. 2009
- The Flood Situation in Kurnool — Update 2 — October 8. 2009
- Victims of the flood — October 13. 2009
After the assessment of the situation on the ground by our field partner, we decided to provide the affected borrowers a repayment moratorium of 6 weeks and informed our social investors about the same.
Director of Hope IRDS Mr. Jayakumar hands over clothes, soap and food purchased using money raised by Rang De. Many thanks to our social investors for the money.
Rang De also raised funds for flood relief and many of our social investors not only donated wholeheartedly. The funds were used to buy clothes, soap and food for the affected and the relief work was carried out in full swing by our field partner Hope IRDS. However, for many of our borrowers everything they owned was lost and they were forced to migrate to other places in search for work and food.
It took some time for the affected to start over again. Most of the borrowers started the repayments well within the initial period of 6–8 weeks and a few who were worst affected will start from 29th of this month. Repayments will be updated on social investors’ accounts shortly (3–5 days).
We would like to thank our social investors who stood by the borrowers and helped them pass through the turbulent times.
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