This arrived in my email and I thought I'd use it to "bump" Kiva's work here.
I particularly liked the "loans disbursed in the form of building materials" - should give borrowers the advantage of bulk buying power and stop a lot of price-gouging.
A few weeks ago I visited Kiva's partner NWTF in the Philippines. Before I left for my trip, I had heard a lot of great things about NWTF, but even with high expectations I was still blown away by their amazing work. This large microfinance institution works with 99% female clients. They are constantly trying to innovate and develop new loan products that will enhance the lives of their clients, which makes them a very exciting partner to work with.
The most impressive thing I saw on my visit was their new Disaster Recovery loan product. The 2013 Typhoon Haiyan affected more than 5,000 NWTF clients, leaving some homeless and some with their businesses in ruins. In response, NWTF has developed a new loan product aimed at helping their clients rebuild and start generating income to again.
While I was at their branch office in Tacloban, I also got to see NWTF employees giving out the loans. But this was unique because many of the loans were disbursed in the form of building materials instead of cash or a check. I watched a steady flow of rented trucks and jeepneys pull up to the small warehouse behind NWTF's branch office and then get loaded up with each group of women's sheet metal and lumber. Later that day when we visited the newly rebuilt houses of several clients, it was thrilling to see the impact of Kiva loans in action.
Thanks for your ongoing support of Kiva, and thanks for reading!
Associate Manager for Field Support at Kiva