Links posted on November 13, 2009
Confusion over where money lent on Kiva goes - I'm sure you all remember the micropayment service which allows you to pay small lone amounts to individuals in countries that need investment. What a lot of people (apparently) didn't know is...well...that's not really how it works. When you see the picture of that person on the site they've already gotten their money from a local microloan agency; your money just backstops that agency. Soooooo, if you're basically just lending money to a bank...what do you need Kiva for?