The Kiva Effect is a great article on micro-finance and faith based micro-credit unions. Thanks to CT for publishing it and Becky for the HT. Of course there are a lot of these initiatives that escape the media’s eye. Check out my post on emerging philanthropy and the Indian Taxi Fund.
Related: I read a book from the 1960’s on Christian cooperatives and the work of Roman Catholic missionary Father Topshee. He created micro-credit unions for Pacific Islanders to help them become sustainable. He figured out that it only takes 100 people to launch a successful cooperative.
I actually have a great deal of reservations about the whole microfinance initiatives. The mark up in interest the poor have to pay is still very high, okay they may get advice and help but even the Grameen bank charges 30% – not a biblical way of helping – charging the poor usury.
The other problem is that it can also be another sub-prime lending bubble. Shouldn’t we be enabling the poor to get out of debt not get into it?
Andrew – what’s your take on the concept that it’s not charity but justice to forgive a lot of debt in the global south that was brought about due to grossly unfair lending practices in the first place? I’m wondering why the US bails out GM et. al. but not Africa? Just asking.
Andrew, have you seen this article? Thought provoking:
http://blogs.harvardbusiness.org/cs/2009/10/kivaorg_role_model_or_cautiona.html
Micro financing has got to be the best idea ever. It keeps peoples dignity — and that’s truly Godly and Christ-like
David
http://www.redletterbelievers.com
“Salt and Light”
That book on Christian cooperatives sounds really interesting, do you have its name?
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Elnora
real estate Buderim