Sunday, January 6, 2008

Kiva, MIX Market, Micro-finance institutions ....

Got an invite from EG to sign up for the Kiva web-site. This site allows for affluent donors to provide loans to "third-world" entrepreneurs in need of money. The donors are directly in contact with the entrepreneurs and get regular updates about how their money is being used, and about the Money repayment details.

The web-site has a video of Bill Clinton explaining the working of Kiva on Television.

Very impressive!

The projects to be financed are picked up through local Micro-finance organizations. One of the requirements for a Micro-finance company to avail of Kiva's services is to be listed on and ranked highly on MIX Market.

I am surprised to see very few Indian Micro-finance companies listed on both Kiva and MIX Market. Micro-financing seems to be an appropriate model for stimulating economic growth among the skilled poor in any part of the world.

Wonder if anyone in my friends' circle have - or know someone who has - started a business in Micro-finance space.

Ever since Micro-finance was thrust into the limelight by the Nobel Peace Prize in 2006 to Muhammad Yunus & Grameen Bank of Bangladesh, there seems to be a rapid growth in the spreading of this grass-roots level "revolution".

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