charity who's name i've forgotten???

ditpoker

Hi, I read about a charity (international, not irish) that basically involved what is effectively charitable investment. I.e. some in a developing nation needs $500 dollars to buy stock for an off license, so 5 people invest $100 with this charity, the guy buys his stock and has started a business. if he makes $500 you get your investment back and can find somewhere else where such a "charitable investment" can be made via same site. something like 94% never take their money off the site, just keep investing in new stuff all over the place. basically its a different form of charitable giving with a bit more "fun" to it. anyone have any idea what im talking about?

ciano6

Part of what you're talking about is microcredit or microfinance, concepts which have been recipients of Nobel Prizes in recent years. Read also about
http://www.grameenfoundation.org

As with other forms of charitable donations, there are criticisms, not least of which are problems with corruption in developing countries and also providing local government with an excuse to shirk responsibilities.

With millions of people starving in eg. Ethiopia as you read this, perhaps direct donation to relief funds is better???

dsg

ditpoker wrote: »

Hi, I read about a charity (international, not irish) that basically involved what is effectively charitable investment. I.e. some in a developing nation needs $500 dollars to buy stock for an off license, so 5 people invest $100 with this charity, the guy buys his stock and has started a business. if he makes $500 you get your investment back and can find somewhere else where such a "charitable investment" can be made via same site. something like 94% never take their money off the site, just keep investing in new stuff all over the place. basically its a different form of charitable giving with a bit more "fun" to it. anyone have any idea what im talking about?

I know the one. Oprah did a show about them. Check her site www.oprah.com

cuckoo

sounds like http://www.kiva.org/

TeRmInAlCrAzY

Yah, kiva.org is incredibly good. They have also updated their system in the last few days so that as the money is repaid from one entrepreneur, it is made available immediately to you for lending again. I was able to make 4 more loans today when I checked in, with the repayments.

I have also set up an Ireland group, if anyone would care to join. Pity I only noticed that function after I had made most of my loans, ah well

Ireland Group -> http://www.kiva.org/app.php?page=community&action=viewTeam&team_id=108

dory

Joined the Irish group!
I've been using Kiva for a year or two now. Really good. I thought they'd forgotten about my money there for a while and they emailed me saying they'd upped my money because they got some tax break, so now I've more cash to go play with!

TeRmInAlCrAzY

w00t, great to see you there - I'm waiting for some more repayments to come in that I can cycle out. 7 members so far, last time I looked, not all of whom live in Ireland, but who am I to discriminate?