Kiva (organization)

from Wikipedia, the free encyclopedia
Kiva Microfunds

logo
legal form Non-profit company
founding October 2005
Seat San Francisco , California , United States of America
management Matt Flannery (Chief Executive Officer)
Premal Shah (President)
Sam Mankiewicz (Chief Technical Officer)
Jen Hamilton (Chief Financial Officer)
Branch Development Assistance
Website www.kiva.org

Kiva is a US-based nonprofit organization that enables individuals, through microfinance Institutions microloans over the Internet to small businesses and individuals, especially in developing countries to lend. The San Francisco-based nonprofit organization is supported by donations from its users as well as PayPal , YouTube , Google , MySpace and Microsoft , among others .

procedure

Kiva enables anyone to become a lender . The donor can decide himself which people or projects he would like to support. Local partners ( Field Partner ) choose the credit receiver ( Entrepreneurs off) and make them available on the website of Kiva potential lenders before. The Field Partners are regional institutions, such as BRAC country organizations , World Vision partners or numerous other charitable and commercial organizations. In total, Kiva has worked with 213 partner organizations over the years. Some of these collaborations ended for various reasons, for example that with one of the partner organizations in Ivory Coast , where corruption was exposed. When it comes to the effectiveness of microfinance initiatives, a skeptical approach is generally advisable. Many outdated or purely quantitative studies are based on an isolated view of microfinance initiatives and ignore competition from informal lenders. Microfinance initiatives can also have completely unintended consequences. Badly managed, they offer entrepreneurs the opportunity to become "middlemen" by lending formal microcredit obtained through proven creditworthiness to poorer borrowers. As a result of this informal intermediation, the poorest of the poor micro-entrepreneurs benefit less than the comparatively fewer poor.

The lenders make their credit available to Kiva free of interest. Kiva itself does not charge any interest to its partner organizations either. However, the local microfinance institute on site charges the borrower interest to cover his own costs and may also prepay the loan until the required amount has been collected on Kiva. According to Kiva, the average borrower repayment rate is around 98.79%.

Since August 2008, Kiva has been offering lenders to join groups ( teams ). In this way a relationship can be established not only between lenders and borrowers, but also among the lenders.

Origins

The microfinance concept is based on the ideas of Nobel Prize winner Muhammad Yunus , who, together with the Grameen Bank, founded in 1983, successfully demonstrated in Bangladesh that microloans offer many advantages over other funding concepts. Yunus particularly criticizes the high administrative costs of the World Bank's funding programs and the long time it takes for those in need to receive funding.

Others

Reid Hoffman sits on the board of Kiva . He donated US $ 1 million to the organization in March 2012.

literature

Individual evidence

  1. ^ "What We Do" on Kiva.org
  2. ^ "Corporate Partners" on Kiva.org
  3. ↑ Kiva Field Partners , accessed January 30, 2015
  4. ↑ Kiva.org Last accessed January 30, 2015
  5. ↑ Frithjof Arp: The 34 billion dollar question: Is microfinance the answer to poverty? . In: World Economic Forum (Ed.): Global Agenda . January 12, 2018.
  6. ↑ Frithjof Arp, Alvin Ardisa, Alviani Ardisa: Microfinance for poverty alleviation: Do transnational initiatives overlook fundamental questions of competition and intermediation? . In: United Nations Conference on Trade and Development (Ed.): Transnational Corporations . 24, No. 3, 2017, pp. 103–117. UNCTAD / DIAE / IA / 2017D4A8. doi : 10.18356 / 10695889-en .
  7. ^ How Kiva Works, The Long Version. Accessed January 30, 2015 .
  8. ↑ David Roodman: Kiva Is Not Quite What It Seems. Center for Global Development, accessed November 14, 2016 .
  9. ↑ Statistics. Accessed January 30, 2015 .
  10. ↑ http://www.kiva.org/about/team/advisors
  11. ↑ http://www.huffingtonpost.com/2012/03/27/linkedin-reid-hoffman-lending_n_1381545.html

Web links