I made a loan to Cetty Saldaña De Salas in Peru today. "Cetty is a very hard working woman and even though she does not have the support from her couple, she does not think this is a handicap to succeed." I''m sure. Anyone who can handle 8 kids can run a successful business.
I choose this loan because its in Peru, and I have a colleague who I like very much who lives in Peru. I'm starting to work with him on the genetics of epilepsy and neurocycosis. 4.4% of my Kiva loans are from Peru.
3 comments:
How do you ensure that your money gets utilized correctly and how do you ensure that you get your money back. I like the concept but am wondering how something like this can be implemented in a country like India.
The microfinance institutes makes sure the money is accountable, and they are required to be transparent to Kiva. Kiva sends its own fellows to visit the sites and make sure everything is correct. I personally have had 88 loans paid back, and none have defaulted (though I realize it is a risk).
Kiva would like to work in India but I think there are legal issues about foreigners lending money in India or something. I don't know the details. Kiva does work in Pakistan; I have several loans there.
Thanks for the information.
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