Working for the World Bank’s infrastructure lending program, I deal with large projects: $500 million loan to Azerbaijan, $150 million loan to China, etc. While these projects make a major contribution towards the development of the country, and improve the living conditions of individuals, I have found a way to get even more involved: through microcredit. These are small loans made to poor individuals who normally cannot obtain funds through the traditional banking sector (for example they don’t have collateral or steady jobs). The amounts are small, but can make a big difference in people’s lives.
Traditionally, it was difficult for individuals to participate in microcredit activities. However, the Internet has changed that, particularly through the web site www.kiva.org.