IKEA Foundation, the philanthropic arm of Swedish home furnishing major IKEA, has given a euro 5-milion grant to US-based non profit organisation Habitat for Humanity to work for the welfare of the poor in India and Kenya.
The grant of 5.3 million euros from the IKEA Foundation will help poor families in India and Kenya to improve homes through access to small loans and affordable, eco-friendly building materials and services, a statement said.
Under the partnership, Habitat for Humanity India will help 15,000 families in India to improve their housing, it added.
"By 2050, 7 in 10 people will live in cities, making the current housing crisis even more important to tackle. We believe that all children should have a safe place to call home and a healthy start in life.
"This is why we are supporting Habitat for Humanity with a 5.3 euro million grant to help families create affordable healthy homes for their children," said IKEA Foundation Head of Communications Jonathan.
Habitat for Humanity is ensuring 45,000 children have a healthier home to play, learn and grow up in.
With the support from IKEA foundation, Habitat will encourage microfinance institutions to match IKEA's contribution and will provide loans to an additional 22,500 families during the five year period, benefiting a total of 37,500 families, the statement said.
"This will directly impact the future of 1,12,500 children in India who will have healthier homes to grow up in and in turn have a better childhood. The program will leverage capital and offer technical assistance to local microfinance institutions to set up small loans for home improvements," it added.
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