Micro-loans made to third-world entrepreneurs are changing lives and fortunes around the world. CNBC published an article on success stories on Kiva’s microfinance loans here.
The Kiva wesite was founded by Jessica and Matt Flannery. They were newly weds - he a software engineer, she an MBA student at Stanford - who were convinced they could use the Internet to put people in need together with people willing to help. Anyway, this is how Kiva works.

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Today I watched a very inspiring speech given by Muhammad Yunus (Founder and Managing Director, Grameen Bank; 2006 Nobel Peace Prize Laureate) at the Council on Foreign Relations on Microcredit. Anyone interested in Microfinance and economic devleopment, please check out this inspiring speech of Muhammad Yunus.
Basically Microfinance envisioned providing financial services such as Microcredit, Microsavings, or Microinsurance to the poor people in this world, in order to empower those people to become self-sufficient. Amongst others I really like the Microcredit peer-to-peer business idea by Kiva. You and I can provided small loans to entrepreneurs in developing countries.
In 2005 The Economist already published a special survey on Microfinance. In a previous post I already wrote about Kiva.
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