CGI is about sound, accountable investments, leveraged for maximum impact. To that end, microfinance is constantly coming up as one way in which investors can make a difference while earning returns on their investment.
So far, close to 3 million micro-entrepreneurs received access to funding thanks to CGI commitments to 270 microfinance institutions. According to onPhilanthropy's blog "BUZZ" this and other CGI successes represent a "New Clinton Metric: People Reached (Not Dollars Raised)."
Want to get involved in the microcredit movement? Make your own loans at Kiva.org or find a group in your community advocating for microcredit. And be sure to sure to let us know about commitment to this issue or any other at MyCommitment.org!
Kolleen Bouchane is the former Education for All Campaign Manager at RESULTS. She is currently working on a Masters in Conflict, Security and Development at Kings College, University of London.
September 28, 2007 This is a
September 28, 2007
This is a great initiative of Bill Clinton's. I admire his vision and unwavering dedication to make a 'difference.' The past six years I have coordinated, taught micro finance and Native Entrepreneurship to member of California's American Indian tribes. Entrepreneurship is an important avenue to self-reliance; not only, but self-respect as a contributing member of the community.
G. David Singleton
I am a consultant to The
I am a consultant to The Grameen Foundation here in Washington DC. I just returned from conducting a business process management workshop for a growing MFI (micro finance institution) in North Africa.
The success of the MFI movement in measurably reducing abject poverty is unquestioned. However most of these are subsitance loans. The loans are used to support an improved standard of living for a family or extended family. This is a good thing. What seems missing is the next stage, beyond lending. Investment in those few micro business that have the capacity to grow into full fledged commercially viable businesses is generally not available. The gap between the MFI and the commercial banking sector is still far too wide in most areas of the world to provide any real capitalization.
What is needed is a new paradigm, one that melds business development and investment. A Micro Venture Capital effort ... anyone interested?
I'm from the UK but it was a
I'm from the UK but it was a former Democrat researcher who introduced me to social enterprise and a new paradigm for business which he took to Russia to leverage a project to created 14,000 loans for new businesses,
http://p-ced.com/Projects/Russia/IntroductiontoTomsk/tabid/295/Default.aspx
Since then we've worked together, applying the same principle to a Marshall Plan for Ukraine and having delivered it 2 years ago, launched a project for models of care for disabled orphans just a week ago
http://p-ced.com/Projects/Ukraine/MarshallPlan/tabid/122/Default.aspx
The key, as I've heard President Clinton say himself, is the Grameen model that loans to poor people without requiring collateral.
We're ready and we've begun.
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