As many readers of this blog likely know, Kiva lends zero-interest capital to microfinance institutions (MFIs) all over the world. Perhaps fewer of you know that the majority of those MFIs charge their clients interest on the loans they receive through Kiva - sometimes as high as 35% to 40% in my regions.
I’ll admit, I was disappointed when I learned that peculiar detail of the Kiva model. However, the fact that I’m writing this post should be proof enough that my on-the-ground work with Kiva’s Field Partners has changed me from a skeptic to a believer. Care to know how I...
Stories tagged with Lending
Dec 12, 2017
Peru
Peru
Oct 10, 2017
Nicaragua
Nicaragua
This article was originally published by the European Microfinance Platform and edited for this platform.
Veronica Herrera, the MiCrédito team and me
Veronica Herrera co-founded MiCrédito, a Kiva Field Partner, in 2004 with the support of the Canada-based development association, Mennonite Economic Development Associates (MEDA).
“Empowering youth is vital to see the change in Nicaragua that we seek,” Herrera says. “I believe education, in addition to microfinance,...
Oct 10, 2017
Kenya
Kenya
Having lived and worked in Kenya for most of my life, I thought I knew a lot about the Microfinance space in the country. Well, all that changed when I joined VisionFund Kenya as a Kiva fellow a few months ago.
VisionFund Kenya (VFK) is a microfinance institution in Kenya founded in the year 2000 by World Vision Kenya. They have over 13 branches located in different parts of Kenya with a current customer base of over 16,000 borrowers, and their unique passion to better the lives of children is clearly stated in their vision statement: ''Our vision for every child, life in...
Oct 10, 2017
Costa Rica
Costa Rica
The town is called San Cristobal Norte – or Sacrin for short – and remember that name because I might never make it out. It’s mid-afternoon, but I am sitting in the dark and the rain outside has culminated into a monotone shriek. So much for the borrower visit I was supposed to do today.
My compañeros at this Field Partner – Grupo Finca – didn't know Tropical Storm Nate would hit Costa Rica. Nobody did. Still, it swept into Sacrin in the middle of the night, where I was sleeping in the home of some of its employees.
...
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Oct 10, 2017
Georgia
Georgia
A week after I got to Georgia as a Kiva fellow in the field, I received an email from Giorgie, one of the guys I had contacted when looking for a place to stay in Tbilisi. He asked if I was interested in coming to his parents’ village to help pick grapes over the weekend. Of course I was! I knew an adventure was afoot.
For context, Georgia is a former soviet republic located in the Caucasus, the region between the Black Sea and the Caspian Sea. Georgia has been struggling to transistion to a market economy after the soviet break up, and you can help them by clicking here and... Continue Reading >>
For context, Georgia is a former soviet republic located in the Caucasus, the region between the Black Sea and the Caspian Sea. Georgia has been struggling to transistion to a market economy after the soviet break up, and you can help them by clicking here and... Continue Reading >>
Oct 10, 2017
Philippines
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Philippines
"We cannot survive without rice.” “Rice is the reason why we work.” “I can have a meal with just rice.” “Rice is life.” “When there is rice, there is no hunger.”
These are some of the quotes I gathered when I interviewed my colleagues at Community Economic Ventures, Inc. (CEVI), a Kiva Field Partner, about what rice means to them. Rice plays a big role in the Filipino culture as well as for most other Asian countries. My dad would be the first one to agree that without rice, he is not full.
Beautiful rice...
Oct 10, 2017
Colombia
Colombia
When you read the phrase “internally displaced persons,” what countries come to mind? I immediately think of Syria and Iraq. If pressed, I can think of a few more: South Sudan, perhaps Somalia and Pakistan.
If the phrase “internally displaced persons” (IDPs) means nothing to you, you’re in good company; I learned the term myself within the last month. IDPs are people who are forced to leave their homes due to violence or natural disasters, but have not crossed their home country’s borders.
I consider myself a daily consumer of global news. As a Spanish...
Sep 9, 2017
Ghana
Ghana
Meeting with Kiva borrowers is a privilege that I have had the opportunity to enjoy multiple times since I have landed in Africa. Oftentimes, their stories, professional or personal, have made me forget the initial reason for my visit. Every single story has something special, and you never know what to expect until you arrive at their home, sit on a wobbly seat and start listening. Whether they are touching, inspiring, heartbreaking or promising, stories always move me deeply.
My name is Victor, a Kiva fellow based in Cape Coast, Ghana, and I wish to introduce you...
Sep 9, 2017
Philippines
Philippines
It’s no surprise that people around me don’t fully understand why I left the comfort of my job and life in the United States to go to the Philippines to become a Kiva fellow. Friends and family often ask, “What do you do, exactly, for Kiva?”
... Continue Reading >>
Sep 9, 2017
Myanmar
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Myanmar
I’m always fascinated by the borrowers around the world that Kiva Fellows highlight. A natural skeptic, I always assumed these profiles were carefully selected, the messaging massaged and refined. However, having lived in Myanmar for over a month now, working with Kiva’s partner Sont Oo Tehtwin, I can definitively claim the opposite. Every borrower I’ve met has impressed me with their unique skills and creativity.
While I could choose any person I’ve talked to as an example, one person I want to mention is Kyi Aye, a man who has a business buying...