Friday, 15 February 2008

Kiva

I just signed up to Kiva to make loans to third world entrepreneurs. This is like the Grameen Bank who make small loans to the world's poor. The Grameen Group was founded by Nobel Prize winner Dr Muhammad Yunus, the father of Microcredit.

I love that I'm not just handing out money - I don't believe that this helps the self esteem of either party and I also love that my money comes back and I can make the loans over and over again. Yes am totally aware that the borrower might default on the loan, but only 1% of the loans default.

So now that I've done my good deed for the day - I'm off up north, for a weekend of arguing, drinking, more arguing and general mayhem with 16 of my closest friends - love it.

Update: No arguing actually - how dull.

4 comments:

Cactus Kate said...

"to make loans to third world entrepreneurs".

On first reading I thought Annie you were lending money to Auckland property developers.

But later read that only 1% default so re-read it! :)

Annie Fox! said...

Given the sub-standards of building in this country, I can understand the confusion.

PC said...

I disagree there was no arguing.

;^)

Annie Fox! said...

Well nothing that I can remember anyway.