Changing China one loan at a time

Google Tech Talks
January 12, 2009

ABSTRACT

As financial institutions melt down, you've probably heard a thing or two about credit--who gets it, from whom, and what it means for the global economy. There are very few bright spots in today's economic environment, but the good news is that in many parts of the world, loans of just a few hundred dollars still have the capacity to change people's lives. Join Casey Wilson, nonprofit startup entrepreneur, to talk about her work with Wokai, the first foreign-funded microfinance organization in China. Casey will share her experiences building an organization that gives the poorest of China's poor the financing to build businesses that lift them from poverty.

Speaker: Casey Wilson
A co-founder of Wokai, Casey leads business strategy and development, Field Partner due-diligence evaluation, and public outreach. Casey's background is in economic development and its applications in China. Casey has also studied Chinese at Tsinghua University, the University of California at Berkeley, and Middlebury College.

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[cLeAnPLasticSun]

Great info; great speaker.

[hellaheckahyphy]

Great job, Casey! Wokai is doing great things and I'm looking forward to seeing it continue to grow!

[gregjalbert]

youtube . com / watch?v=HfPCc4XoOXs --- Microfinance hits obstacles in India --- "72 people have killed themselves in this region in the last two months alone." --- This is very serious! People need to wake up and stop creating more "feel-good" pyramid schemes of finance-based profiteering. Suicides in India are outrageously high from Monsanto and other agribusiness profiteering as well, while people in the industrialized regions have bloated egos and ruinous consumerism. This is pathological.

[RawSkillUK]

@zcoolman1, Go & ask KFC for your macro funding! They might help u out!

[uturniaphobic]

hey guys Love China!

please do not invest in American Treasury notes any more. There's a good argument you'll never see that money again. Thank you!

[ok226]

I read an article about "Wokai" in Chinese online news thus, I search video on the Youtube.

this vedio is great, it is clearly show people who living in country side of China is still underdevelopment compare with urban side.

great work! ! !

[phamiliar]

I'm such a sap...this video brought tears of joy to my eyes.

[Provoost]

I would already be happy if I could make about the same interest as my bank account. I think paying interest to lenders would dramatically increase the amount of money that goes towards this.

From the point of view of the borrower, would a few percent on top of 15-20% be doable?

However, I understand that there are massive bureaucratic barriers to this. Hopefully these can be overcome at some point.

[TrueSoreThumb]

The one downside is that we don't get a return on investment-- if we give somebody 10, we don't get 20 back.

I think I'd still invest though. I'd love a ROI though.

[zcoolman1]

it would be really great if i could get some macro-funding for my micro-chickens.......(they fit in the palm of your hand!!!)