microlending causes a stir

I received quite a few comments about my previous post regarding microlending and today I see that the founder of Ebay has just given $100 million to Tuft university on the condition that the school invests in organisations that make small loans to poor people in developing countries.

Pierre ( the ebay founder) realised that nearly 700,000 ebay users support themselves part time or full time selling through ebay and sees that this economic empowerment can flow to developing countries if it has a chance.

Kiva certainly isn’t the first bank to offer these loans. Grameen was probably the first bank to make microlending successfull and now boasts 3.7million borrowers in 46,000 villages doing loans as small as $40.

Read more about ebay’s gift to Tufst