Microcredit is an ideal instrument to allow poor workers in developing countries to start and grow small activities: to improve living conditions, supply education, and build the foundation for a better future in their country.
Kiva is a not-for-profit organization who is revolutionizing the fight against global poverty.
This is fundamentally possible thanks to the partnership with micro-credit institutions (Field Partners) who connect to kiva.org and publish the profiles of people in need of loans, after having selected the best projects among the many that exist.
Kiva thus presents itself as a platform that allows the creation of a direct relationship between a financial backer and a small entrepreneur in the world’s South.
In contrast to what happens in any other non-profit association, Kiva does not speak of donors, because at the end of each project the entrepreneur must repay the money borrowed (obviously without interest and with the possibility of reinvestment). This carries a responsibility for whoever receives such help and benefits whoever proposes to create something to improve the difficult situations in their countries. Obviously all of this notably improves the transparency and efficiency with which humanitarian aid is seen and minimizes the possibility of misuse of humanitarian funds.
A revolution like Kiva’s seems launched toward sure success, and the results obtained so far confirm expectations, since to date the platform has raised over 11 million dollars and supports over 117,000 local entrepreneurs.
The repayment rate for the invested funds is over 98%!