Look at Kiva.org AGAIN (Microfinancing/Microlending)
The great thing about the internet is that it draws awareness to so many great causes. Unfortunately, that attention is all too fleeting. That’s why, even though Kiva.org was all the rage in the blogosphere just a few short months ago, I feel it necessary to bring it up again.
Organizations like Kiva.org organize microlending programs the help the poorest onto the first rung of the ladder of economic growth. The more of the extreme poor that can be brought to the level of sustainable existence, the better it is for the global economy and the environment.
I recently read a great piece, “Millions for Millions,” in the New Yorker. The article discusses the burgeoning world of microlending/microfinance, it’s key players, and the divide between for-profit and non-profit organizations who are pioneering the business model. The non-profit icon is Nobel winner Muhammed Yunus, whose Grameen Bank has helped countless people achieve economic independence. In the for-profit world, we have eBay pioneer Pierre Omidyar, whose adherence to Adam Smith’s economic principles is unrelenting. In short, Pierre believes that profitable lending institutions are more likely to spread, therefore giving greater opportunity to the largest number of people whereas Muhammed rocks the “profiting off the extreme poor is kind of evil” ideology.
KIVA is a great, small example of yet another approach, that of peer-to-peer lending. Take another look.
The photo above is of Aggrey Kasango of Uganda who is using the $800 supplied by a group of 30 different investors to expand the scope of his business of buying and selling assorted grains. There are many Aggrey Kasangos out there. Why not loan them twenty bucks right now? You’ll get your money back and these individuals and their families will be one step closer to a sustainable future.