As you may know, since August 2009, XacBank has offered Kiva borrowers an incentive to pay their loan principal and interest back on time – an interest rebate in a savings account! If a Kiva borrower pays back on time, then XacBank deposits 9 percent of the interest the borrower has paid on their loan into a savings account. As a Kiva Fellow, I have worked with XacBank to update their policies regarding how Kiva borrowers are considered eligible for interest rebates and simplify how the MFI offers the savings accounts to new Kiva borrowers.... Continue Reading >>
Stories tagged with Mongolia
Compiled by Alexis Ditkowsky, KF14, South Africa
While it may have been a slower “official” news week than usual, I can assure you that the Fellows are keeping busy. One Fellow spent hours searching fruitlessly for borrowers in the jungle, another has been suffering from serious gastrointestinal issues (aren’t you glad he didn’t post about that?), and the rest of us have...Continue Reading >>
Congratulations to Credit Mongol! This Kiva field partner in Mongolia recently achieved active status on the Kiva website. As you may well know, Kiva partners with microfinance institutions (MFIs), like Credit Mongol, in countries across the globe, reaching hundreds of thousands of entrepreneurs. These partnerships are what make Kiva possible on a large scale.
Until an MFI meets the...Continue Reading >>
Compiled by Alexis Ditkowsky, KF14, South Africa
For many Fellows, this week was about getting back to basics: the borrowers. In between fun facts about Kiva Fellowships, doing database detective work, and reflecting on the internal dynamics of Kiva’s partner microfinance institutions, Fellows found themselves in the field again and again, much to their delight and often to the delight of...Continue Reading >>
A borrower verification is a thorough check of ten random Kiva borrowers of a field partner. It’s used to verify the accuracy of the information published on the borrower profiles on the Kiva website. A borrower verification happens several times throughout the course of a partnership in order to assess a microfinance institution’s performance levels. Read below about the ten borrowers I visited through a borrower verification with XacBank. Click through the picture to read the full loan update for each borrower....Continue Reading >>
Happy Lunar New Year! Сар шинэдээ сайхан шинэлээрэй, as we say in Mongolian. Today, the countries and communities across the world who traditionally follow the lunar calendar are celebrating the first day of the New Year! Boy! – Microloan demands sure have been high lately. The need for loans center around traditional activities practiced for the Lunar New Year holiday.
Usually, the peak time for microloan requests and, in relation, the height of the business cycle, are related directly to the local lunar and...Continue Reading >>
A Kiva Coordinator is someone who organizes and manages the Kiva program at one of Kiva’s field partners. Watch the video to find out what a Kiva Coordinator does everyday, their favorite aspects of working with Kiva, and also the challenges of being a Kiva Coordinator. As a Roaming Fellow, I had the opportunity to interview three Mongolian field partners – XacBank, Credit Mongol, and Transcapital....Continue Reading >>
The winter technically began on the winter solstice, the shortest day of the year – December 22. Although from October, families have been making fires to keep warm and temperatures have been well below freezing for some time. Now, we’re in the fourth set of nines in the Mongolian winter, the coldest set! I woke up this morning to -33 degree Fahrenheit temperatures in the capital city. In the countryside, it’s even colder! One of the coldest provinces, Uvs, is -41 degrees Fahrenheit today, without factoring in the wind chill. Here’s the breakdown of the 9 Nines:
By Amber Barger, KF13, Mongolia.
Recently, I was able to travel to the countryside and combine many of my Kiva Fellow duties into one trip. With XacBank, I traveled to Uvurkhangai and Bayankhongor Provinces together with the Kiva Coordinator. We interviewed Kiva entrepreneurs, attended trade fairs, trained loan officers, and participated in a very special certificate ceremony – all in four days!... Continue Reading >>
By Kiva Fellows, Various corners of the globe
Around the world, Kiva Fellows are celebrating the start of 2011 in all sorts of different ways. Here’s what some KF13-ers are doing to ring in the New Year.
Enjoy and Happy 2011!
Ellen Willems, Ecuador
Ecuadorians, as I was told, celebrate the coming of the New Year, and more importantly the going of the “Old Year” by making “monigotes”. These are dolls made of old clothes, stuffed with newspapers or sawdust and sometimes with fireworks as well. They have masks made of papier...Continue Reading >>