Paige Wilson
Ast. Business Manager
Video: Rumill Batts
CHS students are constantly getting involved with worldwide organizations to not only make a difference in their community and the world as a whole. IB Economics students are continuing this trend with their work with KIVA, a micro lending organization.
KIVA is a global community connected through lending. The mission of the organization is to connect with entrepreneurs in undeveloped countries. Anyone is able to go online, create an account, choose anyone of the prospective entrepreneurs and give a donation as low as $25.
The donations give entrepreneurs the chance to receive a loan in a country where they would not be able to otherwise. In numerous countries the closest bank could be more than twenty-five miles away and with no transportation it is nearly impossible to make it there. Also many banks refuse to give out loans to people with pour economic status and those few banks that do give loans have extremely high interest rates that buriers the recipient in debt.
IB Economics teacher Donnette Alexander has been trying to bring KIVA’s interesting concept to CHS for over a year. She feels that is innovative idea is a great learning experience for students.
“It is a great way for students to learn about peoples ideas and it helps the entire community,” Alexander said.
Alexander’s IB economics students have been working on business proposals since early October. In each class students got into groups to develop a product and a complete business proposal for selling their product. The proposals included a marketing plan, financials, and working staff break down. In one of the business proposals was a unique bracelet.
“This gives students the opportunity to learn how to create a business proposal and a business,” Alexander said. “It is a great experience and it gives students the chance to understand real world economic and government situation.”
After the business proposals were complete the classes broke down each proposal to find the best fundraiser opportunity. The students will pick their final fundraiser and complete it on their own. All the money raised will go toward their KIVA account and together students will manage their profile determining where to donate the money.
Students are getting excited about the opportunities the project is offering. Senior Natalie Gale is looking forward to the fundraiser.
“I think it is really cool to deal with real world situations and I like how it is a local and international project,” Gale said.
With KIVA’s high success rates of a 98% return rate they hope to continue donating money year after year. Students will track the progress of their loan recipient to see the difference in the community’s economic situation. Senior Farah Mithani is one of these students.
“I look forward to seeing all the progress our recipients make and to see if it actually works,” Mithani said.
Each of the IB economic classes should start their fundraisers in late January and hope to start lending money in March.
