Micro Magic

In India, microloans are usually disbursed to poor women whose total family assets are less than 20,000 rupees ($459) and whose monthly income is smaller than 350 rupees. Yet microfinance initiatives have a phenomenal repayment rate averaging more than 95 percent, better than the best commercial banks in the world. Many of the programs are highly profitable, Mr. Khosla said, adding that “microfinance is one of the most important economic phenomena in the world in the last 50 years.”

Read the full story - Tiny Loans Have Big Impact on Poor

Thanks for that link R. And much more recently,

Pierre Omidyar, 38, is one of the world’s richest idealists. With stock in eBay worth $8.4 billion, the founder of the auction giant and his wife, Pam, are starting to give money away. In early November they made their biggest gift yet: $100 million to Tufts University, where they met as undergrads. But the money came with an unusual stipulation: It can be invested only in microfinance; tiny business loans (about $600 on average) to entrepreneurs in the developing world.

Read the full story - eBay’s Founder Starts Giving

I’m certainly not Vinod Khosla or Pierre Omidyar. But I dream of combining micro-finance with environment protection (or even regeneration), preserving the rich heritage of handicrafts and other indigenous produce, and educating our young particularly in vocational skills and life-skills.

Sounds too convoluted? That’s probably because dreams are images and not words, pictures and not business-plans. I’m hoping that I’ll have more clarity soon. And that I’ll be doing something about this sooner. Does anyone know if there’s a practical way of converting plastic waste, like the used bags that have become the buntings and festoons of our world, into something more useful - like bricks? Compacted in some fashion, these could be used for things like compound walls and for industrial use, is what I imagine. Any inputs or thoughts?

And please do let me know in case you’ve encountered a situation where micro-finance is making a difference. I’m thinking of building a micro-site….. mega-micro! :o)