US-based micro-business lender Kiva has today signed a partnership with the Philippines-based Globe Telecom (Globe); its first partner in Southeast Asia, to expand its donation service to serve the needs of the less-privileged in the region.
Kiva, a global non-profit organization, uses its online platform to generate donations to people in need that are directly matched with lending opportunities. It lends $25 to each of individuals to help create opportunity around the world.
According to Globe, this partnership will make GCash a secure platform for receiving donations for sustainable livelihood and income opportunities. GCash is a money service on mobile and a flagship service of Globe’s mobile commerce subsidiary G-Xchange Incorporated (GXI).
GXI president Paolo Baltao said GCash is creating a new ecosystem that will contribute to the country’s progress by empowering less-privileged people to access to the better livelihood opportunities.
“Through GCash, Globe’s customers can provide their financial support to micro-entrepreneurs in the country just by using their mobile phones,” Baltao said.
Globe’s President and CEO Ernest Cu said its partnership with Kiva is Globe’s contribution and commitment to the nation’s building.
“We will continue to help generate the opportunities and encourage our customers to join our meaningful partnerships with the organizations like Kiva. By using GCash, we will be able to bridge those who are capable of helping with those who are in dire need of assistance,” Cu said.
Leveraging on its online facility and a worldwide network of micro-finance institutions, Kiva provides loans to people without access to traditional banking systems. The micro-finance institutions, called Field Partners, administer the loans in the field, giving people in need a safe and affordable access to fresh capital in order to continue their livings and that of their families.
Kiva today has over 1.2 million users from 80 countries worldwide. These users have funded loans amounting to over $620 million to 1.4 million beneficiaries.