Comments on: Why Ukraine Needs Microfinance

By: eviemaye

eviemaye — Mon, 03 Nov 2008 16:16:40 +0000

Thank you Pac! I have heard that there’s a push to start doing more microfinance here in the capital, however it’s difficult to do through Kiva due to the loan cap.

By: pac

pac — Sun, 02 Nov 2008 20:16:06 +0000

Hi Evie,

I liked to read your blog on microfinance and the situation in the ukraine. I just wanted to add that there is a microfinance bank in Kiev. It has roughly 80 branches all over the country, 20 of them in the capital. Enjoy your time here in the Ukraine. I guess it is a great experience to be so close to the crisis.

best regards

pac

By: eviemaye

eviemaye — Mon, 20 Oct 2008 12:36:38 +0000

Thank you Jan & John, and Dan.

The maximum loan size that Kiva can work with has put a crunch on many partners in Eastern Europe, where inflation is high and the exchange rate is unstable and is lower than other countries. The economic ripples of the US crisis has affected this region too. But even the successful entrepreneurs here are struggling, and living in many cases without things we take for granted – like hot water. I am glad there are people like you who recognize these people’s efforts.

By: Kiva: Why Ukraine Needs Microfinance? | The MiFi Report

Kiva: Why Ukraine Needs Microfinance? | The MiFi Report — Mon, 20 Oct 2008 00:14:45 +0000

[...] Indeed, in the capital of Kyiv (aka Kiev), microfinance banks don’t operate. The cost of living is too high, and the living standards are those of a middle-income country. You can buy a pizza or condo or a Mercedes in Kyiv. But even here, life is harsher than it is in the West. Public transit, while ubiquitous and cheap, is slow, crowded, unmarked, and in poor repair. The bathroom in an apartment, often as not, is a post-remodel afterthought located in the kitchen. Tall buildings do not necessarily contain elevators. Internet access is in stunningly scarce supply, even in the capital…{click here to read the rest of this article} [...]

By: Dan

Dan — Sat, 18 Oct 2008 23:35:53 +0000

Evie – Thanks for putting some statistical perspective to the Ukrainian situation. Ukraine has been one of the countries we have emphasized in our portfolio, although there was a time when there weren’t too many loan opportunities available on Kiva. I feared that the maximum loan size was keeping Hope away–although more recently I have again been seeing Ukrainian opportunities. Keep up the excellent posts and please continue to share with us your growing understanding.
Dan

By: Jan & John, KivaFriends

Jan & John, KivaFriends — Tue, 14 Oct 2008 16:02:56 +0000

One of my first loans was to a young girl selling towels in a market in Kahovka. She looked cold. I live in Canada and I know how difficult it is to live with the cold winters but it is warm here in our malls. She has since paid that loan and I have another one for a young man who fixes cars in Novomoskovsk. I will continue to watch for and lend to the Ukraine. Thanks, Evie, for reminding us that these people are poor through no lack of trying on their part. Jan

By: Evie

Evie — Tue, 14 Oct 2008 10:00:58 +0000

Thank you John.

Honestly I had the same thought myself when I first saw HOPE Ukraine as a Kiva partner, long before I ever thought I would be living here. While most Kiva Fellows blog posts are stories – and they’re meant to be – once I got here I thought that this article needed writing, so that others could understand why Kiva operates in Eastern Europe at all. We appreciate your trust tremendously, and want to ensure that we can eventually give an explanation that justifies that faith.

By: John Robbins

John Robbins — Sun, 12 Oct 2008 23:46:37 +0000

Thanks for this posting. I’ve made several loans to Ukrainians personally and as administrator of my company’s Kiva portfolio. I had asked myself, “can this be right, these people don’t seem like they need Kiva loans.” But I went on trust that Kiva wouldn’t facilitate loans to people who didn’t qualify.

Your posting was very helpful. That stubborn pang of guilt is gone!

By: Evie

Evie — Sun, 12 Oct 2008 09:54:06 +0000

хорошо! Or rather, it’s coming along as best as I can after a week in country.

Thank you for your kind response. I am tremendously glad to know that this article will help HOPE Ukraine through your loans. That’s truly my mission as a Kiva Fellow!

By: Whitney

Whitney — Fri, 10 Oct 2008 22:02:58 +0000

Well done, Evie – thorough, intriguing research. Persuasive use of facts and figures to paint a complete picture of the current situation in the Ukraine.

My next round of Kiva loans will certainly include the Ukraine – how’s your Russian coming along??