Miss Murchison (missmurchison) wrote in ontd_political,
Miss Murchison
missmurchison
ontd_political

An economic sector that's been making good decisions?

Kiva sent me a link to this video about a microlending group in Nepal. It's longish, but if you find the first half boring in spite of the music, check out Rita's story beginning at about 5:40. The woman strikes me as competence personified. I could easily visualize her running a board meeting, except she seems to have a lot more common sense than the CEOs who have been in the news lately.


Kiva in Nepal: A Field Visit from Chris Baker on Vimeo.

Source for more info about the microlending process. You don't earn interest back (although interest is charged borrowers to cover administrative costs), so it would be like giving to a charity, if you got your charitable donations back eventually and were able to make another donation with the same money. I checked into instances of fraud, and there have been a few but Kiva seems to resolve them quickly, and default rates are low. I've looked for similar sites that work in developed countries but haven't found any that I feel are stable and trustworthy.

{cross-posting to my LJ}
Tags: economy
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