Kiva And Kashf Foundation Announce Partnership
Kashf Foundation announces that it will partner with global website Kiva to provide loans to female entrepreneurs.
Here is the press release:
LAHORE (The Express Tribune News) July 25, 2012 – Microfinance Institution Kashf Foundation announced its partnership with global non-profit organisation Kiva, a platform dedicated to connecting global audiences through online lending.
The association will provide funds for on-lending to give a higher number of loans to female entrepreneurs of low income households.
Kiva lets individuals lend as low as $25 to help create opportunity around the world and ensures that every dollar lent goes directly towards funding loans. The organisation has committed to a facility of $3.2 million over the next two years which it will raise through online donations.
Kiva has worked with microfinance institutions in five continents to provide loans to people without access to traditional banking systems. As the first specialised microfinance program in Pakistan, Kashf Foundation is currently operating in 27 districts in Pakistan through a network of 157 branches.
Kiva is a non-profit organization working to alleviate poverty by connecting people around the world through microlending. With as little as a $25 loan, anyone can help a borrower create new opportunities for themselves and their family. Together with more than 780,000 Kiva lenders and a worldwide network of 142 microfinance institutions, Kiva has created economic opportunity for more than 815,000 borrowers. Since its inception in 2005, Kiva lenders have funded more than $320million in loans with a 98.9% repayment rate. Kiva is headquartered in San Francisco, CA.