The IKEA Foundation, an affiliate of the Sweden-founded IKEA group of furniture companies, recently announced a donation of EUR 5.3 million (USD 6 million) to Habitat for Humanity, a US-based nonprofit that aims to provide safe housing options for people in need. The project is meant to offer construction capital and technical assistance to local microfinance organizations in India and Kenya, which, in turn, would offer loans to families in underserved communities to improve their homes. Habitat for Humanity would also conduct a survey of building materials used in the areas to be served and introduce environmentally safer options. It is estimated that the grant will help improve the living conditions of 15,000 families in India. Information on the number of families to be assisted in Kenya has not been disclosed. [1]
As of June 2015, Habitat for Humanity reported total assets of USD 218 million. In 2015, the IKEA Foundation donated EUR 120 million (USD 130 million) to organizations in 46 countries. The name IKEA stands for Ingvar Kamprad Elmtaryd Agunnaryd.
By Sharanya Madhavan, Research Associate
About Habitat for Humanity
Habitat for Humanity is a US-based nonprofit whose mission is to provide poor people with clean, safe and affordable places to live. Since its inception in 1976, Habitat for Humanity has engaged the services of homeowners and volunteers to build houses under the supervision of trained builders. In the US, the organization offers no-interest mortgage loans directly to low-income families, and outside of the US it partners with microfinance institutions to distribute and service home loans. Habitat for Humanity operates in all fifty US states and 70 countries globally. As of June 2015, Habitat for Humanity reported total assets of USD 218 million.
About the IKEA Foundation
The IKEA Foundation is a charitable organization founded in 1982 by the home furnishings company IKEA, whose name is an acronym for Ingvar Kamprad Elmtaryd Agunnaryd. The parent organization was founded in Sweden but now comprises entities in the Netherlands, Luxembourg and Lichtenstein. The foundation’s mission is to fund programs addressing four aspects of women’s and children’s lives: home, health, education and a sustainable family income. During 2015, the IKEA Foundation donated EUR 120 million (USD 130 million) to organizations in 46 countries.
Sources and Additional Resources
[1] Microfinance Gateway: Habitat for Humanity and IKEA Foundation to improve homes for
MicroCapital Universe: Habitat for Humanity
MicroCapital Universe: IKEA Foundation
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