Delhi chief minister Sheila Dikshit on Friday launched a micro-finance project which aims at providing financial support to over one lakh "vulnerable" women in the city through a cooperative model, over five years.
The project will be implemented by the Samajik Suvidha Sangam (SSS), a Delhi government entity set up to provide various services to the poor, in collaboration with Delhi chapter of SEWA.
Under the project, women from economically-weak sections will be given access to funds and other financial services through a cooperative society called Mahila Sewa Urban Cooperative Thrift and Credit Society Ltd.
"The project aims to ensure financial inclusion of about one lakh vulnerable women in Delhi over a period of five years," Dikshit said launching the project at a function in Nand Nagri area of north Delhi.
Officials said loans will be provided to women at a nominal interest rate of 1.5%.
Dikshit said the cooperative movement has proved to be the bedrock of development in India.