Becoming a banker to the poor
How microfinancing is assisting small business people in developing countries.
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| Premal Shah is the president of Kiva |
A new organisation based in California can help you empower the global working poor.
Kiva has married the social networking revolution of the web to the principles of microfinance. Anyone around can browse the projects that the organisation has surveyed around the world, and give loans (not charity) in $25 increments.
Repayments begin within months, and the rate of repayment is close to 100 per cent. No interest is received, but people world-wide have joined the opportunity to directly assist small businessmen and women in developing countries.
On Thursday Riz speaks with the president of Kiva, Premal Shah, whose interest in microfinance started 10 years ago, on a trip he made to India.
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This episode of Riz Khan aired on Thursday November 08, 2007
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