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eBay Founder’s Bid To Aid Small Entrepreneurs
Ebay Inc. founder Pierre Omidyar and his wife, Pamela, have given $100 million in eBay stock to Tufts University in suburban Boston to create a fund that will invest in microfinance, the practice of loaning small sums to people who are too poor to qualify for traditional lending. The university says it will be converting the stock to cash over the next few weeks.The Omidyar-Tufts Microfinance Fund will be administered by Tufts, where the couple met and graduated in the late 1980s. The Omidyars’ goal is to accelerate the growth of the microfinance sector and encourage other institutions to invest in it.
Current microfinance initiatives, which are targeted most often to developing countries, largely rely on private donations and support from nongovernmental organizations. The Omidyars want to get institutional investors involved by demonstrating that investments in microfinance can provide a competitive rate of return. Tufts will lend money to institutions offering microfinance loans, such as banks, which will in turn pay interest to the university; in addition, they will invest in institutional equity funds and loan guarantees.
via Chuck Huckaby.
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lina khishen on October 13th, 2006 12:14 pm
i need to auction my gold watch on line to pay for my daughter’s trip to washington DC trip and i don’t know how can you please help me with that thank you
Wawan on August 13th, 2007 5:09 pm
Since monetary crisis of year 1998 hitherto growth of entrepreneurs small in Indonesia becoming stuck. This matter is such as those which felt by me which is small entrepreneurs in Rental Computer and Service Typing of Computer.
9 year I experience this profession, not many properties which I have only 2 unit computer, among others: Penium II and of III, and also 1 printer to sustain my life and family. I no have personal house, no have saving in Bank, more than anything else luxuriant goods. For that pass forum of small entrepreneurs this I require fund to increase earnings of me as entrepreneurs small. Thank you for aid and attention.
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