Online edition of India's National Newspaper
Saturday, Nov 26, 2005
Online edition of India's National Newspaper Saturday, Nov 26, 2005 |
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Tamil Nadu
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Chennai
Staff Reporter
CHENNAI: Pharma company Pfizer India announced a Rs. 1 crore partnership on Thursday with NGO World Vision towards the economic rehabilitation of tsunami survivors in Nagapattinam. The funds will be divided into grants and loans (with an interest of 3 percent) to be given to self-help groups formed in the region to promote micro enterprise development. These will include small shop owners, flower sellers and cart owners who lost their livelihood in the December 26, 2004 tsunami. The loan repayment schedule will be 12-18 months, depending on the capacity of clients to repay the loans. Pfizer spent $60 million globally after the tsunami. It also provided resources in terms of doctors and psychiatrists, said managing director, Pfizer India, Kewal Handa at a press conference. National director, World Vision (WV), Jayakumar Christian said WV India's main concern is economic recovery. They have already provided 1,266 boats that benefit 4,800 families. They also give out small business loans and provide training in skills.
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