news from kiva.org ...
.
Dear James,
Thank you for supporting small businesses in the developing world through Kiva.org. Your $100.00 loan to Imongolet Abraham, administered by Kiva's Field Partner, Women's Initiative to Eradicate Poverty, in Uganda has been refunded. $100.00 is now available to you as Kiva Credit. The next time you log into Kiva.org, you'll be able to re-lend this credit to another entrepreneur, withdraw it or donate it to help support Kiva's operations.
Reason for the refund:
As you may be aware, each business on Kiva's website is posted by one of Kiva's 60+ Field Partners in 39 developing countries. A Field Partner is an independent microfinance institution that has a history of lending to the poor for a social purpose. They screen each entrepreneur, post his/her profile on the Kiva website, and administer your loan.
Kiva routinely audits each Field Partner to ensure your loan is being dutifully administered to the entrepreneur you've selected. In the course of auditing our Field Partner, Women's Initiative to Eradicate Poverty (WITEP) in Uganda, Kiva discovered that some entrepreneurs were not receiving the full amount of their loans.
This violates Kiva's policies and we have terminated our relationship with WITEP. All of the loans made to entrepreneurs served by this Field Partner have been refunded. We hope you realize that our audit uncovered a true exception to the norm; the vast majority of our Field Partners administer your loans with the highest integrity. Kiva will continue to audit Field Partners to ensure your loan is being dutifully administered and to make our website a model for transparency in international development.
To help inform your choice of Field Partner as well as entrepreneur, we have launched a new feature on the site which helps you evaluate the Field Partner's performance in your lending decision. See www.kiva.org/about/partners/ for details.
We hope that you give lending to the working poor another chance by re-lending your Kiva Credit to a new entrepreneur on our site.
Sincerely,
The Kiva.org Team
p.s. To re-loan your credit to another entrepreneur, log into
http://www.kiva.org pick an entrepreneur and select
"Pay with Kiva Credit" when you checkout.
_______
Frontline/World, April 10, 2007.
"Uganda: A Little Goes A Long Way"
Show synopsis: "A San Francisco company has taken the idea of microfinance and upgraded it for the Web. Radio reporter Clark Boyd... travels to Uganda for FRONTLINE/World, where the first recipients of money collected through Kiva's Web site are building and expanding businesses. Watch the video here:
- http://www.pbs.org/frontlineworld/stories/uganda601/uganda-601.html?c=3qt
I LOVE IT !!! We cut out the banks !!!
-- Our plan is not to fix the old, but to create the new. --
.
Dear James,
Thank you for supporting small businesses in the developing world through Kiva.org. Your $100.00 loan to Imongolet Abraham, administered by Kiva's Field Partner, Women's Initiative to Eradicate Poverty, in Uganda has been refunded. $100.00 is now available to you as Kiva Credit. The next time you log into Kiva.org, you'll be able to re-lend this credit to another entrepreneur, withdraw it or donate it to help support Kiva's operations.
Reason for the refund:
As you may be aware, each business on Kiva's website is posted by one of Kiva's 60+ Field Partners in 39 developing countries. A Field Partner is an independent microfinance institution that has a history of lending to the poor for a social purpose. They screen each entrepreneur, post his/her profile on the Kiva website, and administer your loan.
Kiva routinely audits each Field Partner to ensure your loan is being dutifully administered to the entrepreneur you've selected. In the course of auditing our Field Partner, Women's Initiative to Eradicate Poverty (WITEP) in Uganda, Kiva discovered that some entrepreneurs were not receiving the full amount of their loans.
This violates Kiva's policies and we have terminated our relationship with WITEP. All of the loans made to entrepreneurs served by this Field Partner have been refunded. We hope you realize that our audit uncovered a true exception to the norm; the vast majority of our Field Partners administer your loans with the highest integrity. Kiva will continue to audit Field Partners to ensure your loan is being dutifully administered and to make our website a model for transparency in international development.
To help inform your choice of Field Partner as well as entrepreneur, we have launched a new feature on the site which helps you evaluate the Field Partner's performance in your lending decision. See www.kiva.org/about/partners/ for details.
We hope that you give lending to the working poor another chance by re-lending your Kiva Credit to a new entrepreneur on our site.
Sincerely,
The Kiva.org Team
p.s. To re-loan your credit to another entrepreneur, log into
http://www.kiva.org pick an entrepreneur and select
"Pay with Kiva Credit" when you checkout.
_______
Frontline/World, April 10, 2007.
"Uganda: A Little Goes A Long Way"
Show synopsis: "A San Francisco company has taken the idea of microfinance and upgraded it for the Web. Radio reporter Clark Boyd... travels to Uganda for FRONTLINE/World, where the first recipients of money collected through Kiva's Web site are building and expanding businesses. Watch the video here:
- http://www.pbs.org/frontlineworld/stories/uganda601/uganda-601.html?c=3qt
I LOVE IT !!! We cut out the banks !!!
-- Our plan is not to fix the old, but to create the new. --
.
posted by JamesB at 7:28 PM
0 Comments:
Post a Comment
<< Home