Program II : Peer-to-Peer Microfinance Rural Poverty Alleviation Program (G10-G11)
- 2012 P2P Summer Camp – Global Philanthropy Leadership Internship Program
What is “microfinance”? Muhammad Yunus (born 28 June 1940), a Bangladeshi banker, economist, and Nobel Peace Prize recipient, began developing the concepts of microcredit and microfinance in the 1970s. By affording loans to entrepreneurs too poor to qualify for traditional bank loans, Yunus discovered a way to help individuals extract themselves from the cycle of poverty. In 2006, Yunus and the bank he founded (Grameen Bank) were jointly awarded the Nobel Peace Prize “for their efforts to create economic and social development from below.” Yunus himself has received numerous other national and international honors, including the Presidential Medal of Freedom, the Congressional Gold Medal, and honorary doctorate degrees from universities across the world. Today, Yunus’ microfinance model has inspired similar efforts in over 100 other developing countries.
Like Professor Yunus, you too can make a difference in the world through microfinance! A peer-to-peer microfinance program primarily targeting Chinese peasant workers, IvyMax’s Poverty Alleviation camp enables lenders to extend loans directly to borrowers, offering rural farmers the chance to make great strides towards economic independence. By providing individualized support through the P2P model, we aim to increase and promote the effectiveness of microfinance in rural areas. As our platform continues attracting worldwide attention to the millions of poor peasants in China, our goal is to help them eradicate poverty at an early date to lead lives of increased mobility and wellness. Educated and inspired young adults who participate will help shape the future of microfinance and use capital resources to make a global difference.
Location: Gansu, Henan, Ningxia Hui (Muslim) Autonomous Region
Length of Program: 15 days
Size of Group: 15 students on average
- Conduct research regarding microfinance, microcredit, P2P, and Prof. Muhammad Yunus
- Receive training on how P2P works in China
- Conduct field trips/interviews with lenders and borrowers
- Finalize operations report for future P2P microfinance program in China