Interesting Projects: Kiva

Through this blog post at Next Billion, a site

about how business drives positive social and environmental change in low-income communities [from here]

I recently found out about the project Kiva.

It’s a social network where everyone can login and basically start start giving microcredits to people all over the world.

The idea of microcredits is a Nobel-Prize winning form of giving credits to the poorest of the poor to enable them to change their living conditions. They are required to have a business plan to get the loan and sometimes they even have to attend business seminars, so that they can start to run a sustainable business.

The interest rate is not very high and through the initial project of Muhammad Yunus helped a lot of people in Bangladesh to free themselves from extreme poverty.

Now there have appeared several institution who give microcredits, but often the capital is missing.

Kiva solves this problem by democratizing the capital giving, allowing everyone to invest in a new business. It is possible to view the profiles of the entrepreneurs in lesser developed countries over the Kiva platform and to track their forthcomings.

Here is a link to an interview with the founder of Kiva – Premal Shah, he explains the idea very comprehensive. Watching it made me want to contribute to the idea myself.

This one is another article about Kiva in Newsweek. It displays the idea on the example of Dan Zuckerman, who lives in Tajikistan and gives microcredits there. Furthermore it’s about how Wikis make his work easier, connecting him with other people working with Kiva-loans.

Go ICT4D! Go Web 2.0!

Check it out

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Interesting Projects: Kiva
was published on 11.09.2008 by Florian Sturm. It files under global
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