Money To Live

October 15, 2008

Blog Action Day 2008: Poverty

Filed under: philanthropy — by moneytolive @ 5:00 am

Today is Blog Action Day, and the theme is Poverty.

An organization enabling families to move out of poverty is Kiva. Through Kiva, individuals like you and me can make micro-loans to individuals around the world. Local offices manage the funds and help people prepare their proposals.

My father is notoriously difficult to find gifts for, so one year for Father’s Day I opened a Kiva account in his name. He seemed to like the idea, especially since I offered to manage the loans for him. So far, the Father’s Day gift has been loaned to a seamstress in Samoa and two different grocery clerks in Cambodia. As the loans are repaid, the money is put back into the Kiva account, and it can be withdrawn or re-invested in a new loan (note, these loans do not pay interest to the depositor).


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