Kiva, the microfinance powerhouse, announced that they are beginning a pilot program of offering educational loans. As they say in their blog, "The pilot was born as a natural extension of Kiva's mission to connect people, through lending, to alleviate poverty."
How do I feel about this? Will this make BECA obsolete?
Hmmm, it's a little early to say, but it appears that Kiva education loan recipients are all University students.
BECA came about because I saw a need. I came across some young people who managed to scrape through High School here in Nicaragua but then faced a dead end. They wanted to continue their education, but didn't have any money to pay for it.
Inspired by Kiva, my idea was to connect sponsors in other countries with these young people through the Internet. The loan model -- which I considered -- at that time didn't seem plausible to me. I figured that the last thing these young people needed was a loan, another encumbrance. What they were looking for was an opportunity.
So, ultimately, will the entrance of Kiva in the "marketplace" affect BECA's place here?
I don't know. In it's current incarnation, probably not. BECA gives technical career scholarships, not University scholarships. Second, the Kiva recipients appear to be a little bit better off economically.
Nevertheless, I would be happy to be wrong. I feel strongly that BECA serves a niche in Nicaragua that deserves service. If something -- like an organization like Kiva -- comes along that is more efficient, or better in any way, I would welcome it with open arms.
May I say I am proud of what BECA is doing but I am in no way married to it as an institutional entity.
Ultimately, what these young people deserve is a break.
With BECA or without it.
Great Post! We need to help people overcome poverty that is the main object, thank you for giving nicaraguan people an opportunity to grow in all aspect.
ReplyDeleteRegards