Wokai: Micro-loans for China’s Poor
Two young American women who studied Chinese in Bejing have created a fund for helping China’s poor who struggle even while the economy is growing there. The wealth being generated by the growth in China is said to not be trickling down to many of the country’s poor.
Wokai lends small amounts of money to entrepreneurs (micro-loans of a few hundred U.S. dollars) so that they can make changes in their businesses necessary to achieve their goals. The money is then returned to Wokai for distribution to others. Read more at the Wokai website.
The BBC has a brief video about Wokai HERE. Kudos to Casey Wilson and Courtney McClogen for setting this up. I hope they get the additional funding they seek to expand their project.
Posted on Monday, December 20, 2010 in
Giving •
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