In July 2011, Sydney City Rotaract kickstarted its very own micro-finance fund utilising Kiva. We are proud to annouce that we have recently made out 300th Kiva loan and are in the top 1% of Kiva lenders in the world!
Micro-finance involves lending money to budding entreprenuers in developing countries. These 'budding entrepreneurs' are ordinary people, often with families, who don't have the same access to finance that the developed world takes for granted. They often require quite small loans, which aren't attractive to ordinary banks. Hence the term micro-finance! The other benefit of micro-finance, is that the money we lend gets repaid - and we can keep lending the same money to many many different people (help themeselves)! Micro-finance truly is an economic multiplier.
Kiva is a search engine for micro-finance, and through Kiva, our club can lend money to people across the world, in a few clicks of a mouse.
Sydney City Rotaract has raised $2,500 so far for our micro-finance fund, and we hope to keep growing!
Sydney City Rotaract's Kiva fund page which includes information on loans made and statistics on our loans: http://www.kiva.org/lender/sydneycityrotaract
Please contact Sangita Rai, International Services Director if you have any questions regarding Sydney City Rotaract's Kiva fund: [email protected]