Kiva givesJuly 25, 2007 at 4:55 pm | Posted in Economoney, Internet, Online services | 1 Comment
The Nobel Peace Prize for 2006 was awarded to Muhammed Yunus and the Grameen Bank for helping large population groups find ways to break out of poverty through the concept of Micro-credit.
A recent PBS show on Frontline featured an organization that has taken Micro-credit and made it accessible on the web. http://www.kiva.org/ This organization takes the money directly to the people with ideas.
You can choose the business and the loan amount online. You can view the loaning partners repayment history. (they use the same network as Grameen) And you get updates on the progress of the project and loan. When the loans are repaid, you can get the money back or reinvest in another loan.
Its a one to one relationship made possible by the Internet.
A one time donation that keeps giving, directly…