Kiva Stories from the Field

Microfinance and Natural Disaster

Betsy McCormick, KF12, Medellin, Colombia

This winter is said to be the worst in the last 60 years in Colombia. In the 45 days since I arrived in Medellín, roughly three have not included a rainstorm. I’ve just come to accept the fact that most days I will get stuck in a torrential downpour, and that my umbrella will be rendered useless. The locals like to remind me that while I have been dealing with the rain for only a few weeks, this has been their reality for months, and there is no end in sight. Official weather reports estimate that the rain will continue through March.

Around the country, Colombians are feeling the effects of winter. Medellín itself is located in the bottom of a valley, and many of the communities up in the hills have suffered devastating mudslides. Beyond the inconvenience of the road closures (most major routes in the state of Antioquia are either closed or severely delayed), mud has crushed entire neighborhoods and buried families. About two weeks ago, the president declared a state of emergency. The government emergency fund will cover only about one tenth of the damage that has been done. To date, 200 people have died, another 250 are injured, and about 120 more are declared missing. Almost 300,000 homes have been affected, with over 2,000 destroyed completely. The trauma begs the question: what is the role of microfinance in the wake of natural disasters?

Continue Reading 23 December 2010 at 10:00 betsywmccormick Leave a comment