Good news from Iraq

Amidst all of the terrible headlines from Iraq about violence, killings and suicide bombings there was one small glimmer of good news that I came across the other day. The article was on the BBC News website and is about a US Marine who has initiated the funding of a football league for children in Falluja (read the article here). The charity founded to support the intiative is called Operation Ultimate Goal.

I think that this is a great initiative and anything that can be done for children that have lived through what many Iraqi children have experienced is positive.

The goal is to get the league up and running by the end of January 2008. I wish them all success with the charity and the football league.

Interview with Kiva.org president Premal Shah

An excellent interview with the president of KIVA that explains how it all started, how they work and how microfinancing is helping small businesses in the developing world.

Lending to businesses in the developing world - KIVA

KIVA is fantastic organisation that utilises the power of the Internet to enable individuals to loan to small businesses in the developing world. Through KIVA you are not giving money but loaning it using the principles of microfinancing, with loans being administered and managed locally by microfinancing organisations that are partnered with KIVA. Their website www.kiva.org describes exactly how the loan process works and what KIVAs role is in that process.

There are several things that I like about the KIVA model:

1. When choosing a business that you want to loan to you can see who represents the business and read a bit about them and what their plans for the money are. It adds a very personal dimension knowing exactly who you are lending to, as well as a high level of personal choice because it is you who is deciding what you want to support.

2. Business journals keep you up to date and give you a sense that you are actually making a difference. Some journals are updated more than others but they are great for keeping you informed about progress.

3. Lending to businesses is helping to build the community and often there are unforseen benefits that become apparent as businesses develop. One of the businesses that I lent to was Raising Chickens in Mozambique where the growth of the business has lead to a source of meat protein being easily available to the local community.

I found out about KIVA at the beginning of 2007 and I am pleased to say that all of my 4 loans now have over 50% repaid, with one of them Good Sheperd Enterprises about to reach 100%.

There are very many benefits of microfinancing and KIVA has successfully made it possible for us to make a direct impact on the lives of many people in the developing world.