Merry Christmas from Mawul

Holiday greetings from Togo: Your online microfinance loan has been paid back in full.

Andrew Leonard
December 21, 2007 8:22PM (UTC)

One year ago this week, I lent Mawulé Agbeka $25 via the online microfinance nonprofit Kiva. Agbeka is an entrepreneur in Togo who needed cash to buy a freezer so she could start selling frozen foods. With my help and similar contributions from a score of other lenders, she raised a total of $1,200.

This morning, I received an e-mail from Kiva informing me that Mawulé Agbeka has paid back the full sum of the loan. My $25 has been returned to me. I can withdraw it, donate it to Kiva's operational expenses or roll it over into a new loan.


Since its founding in 2005, Kiva says, 177,000 lenders have made nearly $17 million in loans and been rewarded with a repayment rate of 99.8 percent. According to the Microcredit Summit Campaign, across the globe 133 million families received a microfinance loan last year.

I don't think that's enough. I'm going to roll it over and double up on my bet. Call it the How the World Works Christmas tradition.

Andrew Leonard

Andrew Leonard is a staff writer at Salon. On Twitter, @koxinga21.

MORE FROM Andrew LeonardFOLLOW koxinga21LIKE Andrew Leonard

Related Topics ------------------------------------------

Globalization How The World Works


Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •