On November 18th our Rotary District 7930 held a webinar to look into Microfinance and how we can easily come together to help to empower people around the globe to lift them out of poverty by providing them with small loans to support them in buying chickens, buying a sewing machine, fabrics, seeds, and many other things that enable them to be more productive members of their societies.
As an example we looked, in particular, at the non-profit organization Kiva that provides a platform to connect borrowers around the globe - via field partners in their home countries - with lenders in the US and Europe who come together to support those loans via crowd-funding.
Microfinance is an important topic for Rotary's area of focus concerning "Growing Local Economies" and, in particular, is a large focus for the Rotary Action Group for Community Economic Development.
Microfinance is also a great tool for Interact Clubs: the club can raise some money and then decide which loans to give out and follow those borrowers and their progress. The Marblehead Interact Club has been doing this for many years. This would also be a great opportunity for Rotary Clubs to apply for a Mini-Grant for their Interact Club. Mini-Grants for Interact are still open until December 15...
If you missed the webinar, the recording is now available on YouTube for your convenience.