Microcredit Project

Ajay, with support from Charlotte, gave a very clear presentation on the microcredit project that our club is involved in through the Kiva on line lending platform. For those of us who so far had only a limited understanding of how Kiva works, the presentation was an eye opener. The ease with which we can choose projects to support in all corners of the world, was demonstrated by actually visiting Kiva's website and selecting three new projects together. Particularly impressive is the high rate of repayment; more than 97% of the loans are repaid in full, a better result than commercial banks can ever hope for. From the reactions to Ajay's presentation it was clear that many members will be setting up their own Kiva accounts.

Calin proposed a vote of thanks, and noted the stark contrast between this program that builds on the spirit of entrepreneurship and the forced collectivisations of the communist era.

Copies of the presentation and an overview of the projects that our club has supported so far are included with this report.

A pdf of the power point presentation from the evening can be downloaded here.

A complete list of our other events from Calendar is also available.