RESOURCES
calvert foundation,
calvertfoundation.org
Grameen Bank,
grameen-info.org
GreenMicrofinance,
greenmicrofinance.org
international association
of Microfinance investors
(iaMfi), iamfi.com
Microcapital, microcapital.
org: investment news
MicroPlace, microplace.com
Kiva, kiva.org
Procredit Holding,
procredit-holding.org
the Microfinance infor-
mation exchange (MiX),
mixmarket.org: lists and
rates microlenders.
tiaa-cref, tiaa-cref.org
High-net-worth individuals and institutional investors have the option of either providing debt ( 6 percent
return) or taking a long-term equity stake ( 8 to 10 percent
return) in some 90 microfinance loan funds. Pension fund
TIAA-CREF, for example, has a $43 million equity stake
in Procredit Holding, one of the world leaders.
Green Microfinance?
You may find a few borrowers wanting to buy solar
cookers, but don’t expect many green options. When
I asked Microplace about whether they vet microfinance
institutions on green lending criteria, general manager
Ashwini Narayanan said, “Microfinance organizations are
very forward-thinking in Nicaragua. They believe farming is the key to prosperity there and teach sustainable
farming practices. Borrowers receive better rates if they
employ green practices. But that’s the exception. In many
countries, if there are any funds for education programs,
they are used for basic training in healthcare, literacy,
figuring out a business plan, helping borrowers learn how
to manage money.”
Aptly named, GreenMicrofinance will soon launch the
Bepart of the GROWING
S reanetwuarbdlae ye,neOrgcytroebvoelurti3on, 2009
eBay founder Pierre Omidyar,
Bill Clinton and Bill Gates are all
microfinance investors.
first green loan fund to focus on bringing clean energy to
the world’s 1.6 billion people without access to electricity.
A tiny 70-watt photovoltaic system provides four hours of
light in the evening and power for a cell phone and radio.
A few hundred dollars purchases a biodigester, which
converts garbage into methane gas for cooking and into
fertilizer, which can be sold. A biodigester kit includes a
solar panel, an LED, a compact fluorescent bulb and two
trees to be planted.
These products protect the environment while improving peoples’ health. Women no longer have to walk long
distances to collect wood. That reduces deforestation. Villagers can quit using kerosene, which can burn kids and
induces respiratory disease. ST
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