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Published on Apr 26, 2012
President Clinton announces Kiva City at the Clinton Global Initiative in New York
Speaking to more than 700 leaders from businesses, nonprofits, and government at the opening session, President Clinton announced three "Commitments to Action" that will be implemented by CGI America participants. These commitments, presented by Kiva, Visa, Onshore Technology Services, and the AFL-CIO, will expand access to microfinance, train workers, and fund infrastructure development.
Visa and Kiva:
Visa and Kiva committed to launch the Kiva City initiative. Seeded with a $1 million contribution from Visa, Kiva City will engage local civic leaders, community organizations, and financial institutions to identify small businesses in need and to help Kiva administer and fund microloans. Today, Kiva launched its first Kiva City in Detroit. Over the next two years, this commitment will roll out in other American cities and aims to generate a total of $3.5 million in loans.