Adventures in Asia

by Greg & Francie

You (yes you!) can give Microloans to entrepeneurs in Developing Countries!

This is the coolest site I’ve seen in awhile: www.kiva.org

It has profiles of businessmen and women in developing countries who are in need of microloans (or microcredit) to start a business or develop their business. You can loan as little as $25 (and get paid back!). What a cool way to help out people that are trying to improve the lives of themselves and their families.

In case you were wondering, the Microloan concept was put into use by Muhammad Yunus, founder of the Grameen Bank of Bangladesh, who used the loans to help poverty stricken women in Bangladesh start their own businesses. For this he won the Nobel Peace Prize in 2006. I happened to randomly catch a show on PBS a few years ago about his bank program and how successful it’s been in Bangladesh. One interesting thing about it is that the loan repayment rates are close to 100%. They partially credited it to the fact that the loans were only given out to women. 🙂

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September 7, 2007 - Posted by | Misc

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