So what's all the fuss about?
"[Microfinance is] the extension of small loans to entrepreneurs too poor to qualify for traditional bank loans. In developing countries especially, microcredit enables very poor people to engage in self-employment projects that generate income."Kiva uses this idea at a personal level, and links people who want money with people who people who are willing to loan the money and help improve conditions in the developing world.
-- en.wikipedia.org/wiki/Microfinance
As one website describes it, Kiva is like "microfinance meets Match.com"
Sounds a bit dodgy?
It's already been covered by the New York Times, the Wall Street Journal and BBC to name a few.
Will I get my money back?
The best thing is, it's a loan, not a donation. The purpose is to lend people money so they can help themselves, and then repay you the loan. In fact, to date Kiva has managed to maintain a 100% payback rate.
So what are you waiting for, go and check it out! www.kiva.org
(ps. While you're here, why not leave us a comment to tell us what you think. It can be anonymous!)
7 comments:
Well done, Phil.
You can also check out how UNCDF (Unite Nation Capital Development Fund) has identified microfinance as an effective means of contributing on a sustainable basis to poverty reduction at the link - http://www.uncdf.org/english/microfinance/.
Great Challenge.
Go KIVA!
You three are doing a great job raising awareness and that in itself is inspiring.
Have you told Kiva what you are doing?
Lisa - thanks for your kind comments. We have told Kiva about our project, and they're keen to find out how we go!
Phil, your social conscience is even making me feel guilty. How do I contribute? I'll just spend it on booze anyway.
Cheers
D.
ps is this the guy who won a nobel peace prize for setting up microfinancing in Bangladesh?
Hey Guys,
We can't begin to tell you how much we appreciate the work you are doing here. We're definitely noticing and Kiva staff are juiced to see initiatives like this.
Go Card,
Ben Elberger
Microfinance Partnerships Manager
Kiva.org
Loans that change lives
Please ask your blog readers to join in the TalkShoe-Sponsored KIVA Talk-A-Thon running from Sunday noon to Monday noon EDT)on March 18th and 19th.
Bill Quigley and I will be hosting on Monday - 9 to 10 Am (EDT) and would appreciate the support.
Your KIVA lending stories would be greatly appreciated and we will present them live (if you wish) or interview you live as well.
Check it out at http://www.talkshoe.com/talkshoe/web/talkCast.jsp?masterId=14678
Hope to see you there.
Thank you.
Art Blanchet
Post a Comment