Kiva - microfinance

Question 1

What is Kiva?

Answer 1

• gives loans to people to start businesses to generate a steady income and bring them out if poverty
• Eg. giving a farmer money to increase crop number so larger yield
• Eg. buying proper tools for someone to carve wood to sell
• Eg. buying materials for someone to make clothes
• mirco finance - Provides financial service to the poorest people

Question 2

Kiva stats

Answer 2

• $1.6 bil in loans
• 96% repayment history
• Spans 77 countries
• Sometimes as low as 20$
• Over 90% of borrowers are women

Question 3

Impacts of Microfinance

Answer 3

• break poverty cycle
• empower women
• Increase collaboration and international relations
• decent work and economic growth
• pay for education, health care etc = better quality of life
• usually receive education on saving, interest, finance, business management