Posted: March 11th, 2022
Complete 1 page APA formatted article: Financial Inclusion in Kiva Org. Financial Inclusion in Kiva Org Access to financial services is a crucial element of economic development and social mobility.
Kiva is one organisation working to bring financial services closer to the excluded the world over and it leverages on technology to achieve its mission. The organisation’s goal is to connecting people across the world through lending with the sole aim of alleviating poverty. It gives opportunities for people to lend a minimum of $25 which is used in creating opportunities for poor people around the world. The whole 100% of the lenders money towards funding affordable loans to the needy and once repaid the lenders could withdraw their money in full or lend again to the needy borrowers. Kiva is currently present in 86 countries around the world, works with 293 MFI as field partners and has already disbursed loans worth $683,511,700 with an impressive repayment rate of 98.75% (Kiva.org, 2015)
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