Microfinance TED Presentation

President Bob Neibert brought the power of his cell phone to the morning meeting and created a hot spot so that we could watch Jessica Jackley on a TED Talk, www.ted.com/talks/jessica_jackley_poverty_money_and_love passionately ask us to engage poverty to help others and to listen to their stories. She set up the KIVA website, www.kiva.org/ and in less than eight years grew its microfinance budget from a half million dollars to over $150 million. She has talked personally to goat herders, seamstresses and farmers in developing countries and with loans of around $100 helped these entrepreneurs raise their standard of living. Almost 97% of the loans are paid back in full, far better than traditional lending institutions. 

The Rotary Foundation also offers microcredits and matching grants, www.rotary.org/en/document/728 . As well, there is a Rotary Action Group for Microfinance and Community Development, www.ragm.org .