Micro-loans were featured by the Observer as one of ten ethical ideas to change the way we live at the beginning of February. Grameen Bank, set up by Muhammad Yunus to offering micro-credit in Bangladesh, has been around a long time, but now other organisations are making it possible for individuals to become micro-lenders.
I first came across Deki as a Christmas present; it's possible to buy gift certificates so that others can make the loans. I chose to lend to two women in Ghana who are selling clothes to support their family and provide their children with education. I only provided part of the total they needed; I can see who the other lenders were, as well as some information about Deki's local partner in Ghana. Both women have already repaid part of their loans, and I will be soon be able to lend it again. The benefits of providing loans, rather than aid/grants, is that it provides the recipient with the dignity of being able to pay it back, and the cash could benefit people again and again. Of course, I don't know whether the loan will be repaid. But Deki have a page of information about the risks involved, and I will just have to trust in Deki, their partners, the borrowers, and the political situation in Ghana.
The other ideas in the Observer are worth a look, too.
Between September 2010 and September 2011, I lived alongside an Anglican Benedictine community of monks and nuns. In November 2010, we moved from Broad Marston Manor near Evesham to Mucknell Abbey, a new eco-monastery near Worcester. This blog was about things that I observed and things that interested me. I have now stopped writing it. Thank you to all who were also interested.
Do you let us know how this progresses. It sounds really interesting.
ReplyDeleteHi, my Dad and I have made over 30 loans via a similar organisation called kiva. It's such a worthwhile way to give money to other people - helping them to help themselves. Don't worry, we've had no defaults and only one late-payer. Enjoy your giving
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