This is Simon. He lives in Tanzania and I just lent him $25. I am helping him buy a biodigester for his farm and other biodigesters to sell. The biodigester will convert food and animal waste into fuel for electricity and cooking Just as climate change will be reduced through the action of millions of individuals, Simon will get his biodigesters through the small gifts of many individuals. Welcome to the world of micro finance.
The loan is being made through KIVA, a micro lending organization that facilitates small loans to individuals around the world. I was aware of this avenue for helping poorer people get access to capital and improve their lives, but I hadn't thought before about using these loans to help reduce greenhouse gases. It's an exciting idea to me.
Today was the first time I've made a loan through KIVA. I was able to make four loans totalling $100 for the price of $50 thanks to a couple of Groupon coupons I purchased back in December. Three of the loans will directly impact climate change - two biodigester projects and one solar heating project, so less propane, less oil, less charcoal, more trees.
It will be interesting to follow the progress of the projects and see if the loans are repaid. Since I purchased Groupon coupons through a two for one offer, the loan repayments won't come back to me but will go into the general lending fund of KIVA. Next time, I'll lend directly through the organization. Then I can use the repaid funds to lend again and again.
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