WOKAI China’s first giving website
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Transcript of WOKAI China’s first giving website
WOKAI China’s first giving website
Microfinance institutions can provide the poor with different financial services such as:
LOANS
Borrowing money that must be paid back later
SAVINGS
An account where people can store their own money
INSURANCE
A promise to repay a person in cases of lost or damaged property such as robbery or disaster
What is microfinance?
A small amount of money can go a
Pots to cook noodles Feed for piglets
Supplies for storeCoal to sell
With a small loan, people can invest in their business and talents. Whether it be for silk to make dresses, or feed for piglets, or noodles to make soup, that first loan can help people make it out there.
Why do the poor need these services?
MUHAMMAD YUNUS established a successful microfinance model when he founded the Bangladeshi Grameen Bank (Bank of the
Villages) in the 1970s.
How did it begin?
113,000,000 clients
by 2006
Nobel Peace Prize
$25,000,000,000 invested worldwide
98.35% repayment rate (Grameen)
Success Story
Where does China fit in?
—Microfinance - $3 billion (2010)
—Less than $1.25 – 456 million
—Microfinance Start – Late 1970’s
—Microfinance - $.2 billion (7% India)
—Less than $1.25 – 200 million
—Microfinance Start – I993
China’s Growing Divide
2.5X3.3X
4.6X
6.3X!
Equal
$11,880
$1,900
Urban-Rural Divide Projections
WuHailing's Story
After getting married, Wu Hailing was kicked out of her home and endured household debts from her and her husband’s families
WuHailing and her husband left to work as farm laborers
After a few years, they were able to pay off their debt and learned how to raise ducks
They invested in raising ducks, but all the ducks soon died
“We lost nearly all of our confidence and had to work our fingers to the bone just to keep our heads above water.”
What was WuHailing going to do next?
“Wo kai” means “I Start” in Chinese Wokai’s mission is to empower the impoverished in China to lift themselves from poverty by starting small businesses
Wokai Mission
Wokai Demo
1. You Choose & Contribute to WuHailing
2. Field Partner (ARDY) Distributes the Loan
4. You Redistribute to Another Rural Entrepreneur
3. You Track Her Repayment Progress
How Wokai helps WuHailing
How Do We Choose Them?
Meets international best practice
Requirements
Investment committee approval
Semi-annual on-site
Monitoring
On-site due diligence
Current Locations
Future Expansion Plans
Inner Mongolia(CZWSD
A)
Ningxia
Shaanxi
Sichuan(ARDY)
Field Partner Locations
Wokai – Behind the Scenes
What Happened to WuHailing?
Her family borrowed RMB 2,000 from ARDY and used it to
buy some more ducks Due to the help of the staff, they
were able to raise those ducks
without problems and earn income for their household
The staff members have not only taught them faming techniques,
they’ve also taught them how to manage money
In a couple years, she estimates that they’ll be able to repay all of their
debts and have enough so their son can go to school
Expats Academics Adopters Businessers
Ethnics
300,000 100,000 60,000 2,700,000
100,000
Visitors
500,000
Who’s Contributing to WuHailing?
Potential Number of Contributors:
3.76MM
Average Contribution Size:
Total Addressable Market:
$125
$470MM
Meaningful Impact in China
Direct:
Provide microloans to impoverished entrepreneurs for small businesses
Indirect:
Building a global community supporting microfinance in China
Provide a credible giving place and source of information
Enable microloan recipients to achieve economic prosperity — defined as the ability to afford healthcare, education and basic food, water, and shelter
$99,000 loan capital
raised11 months live
11 press
features 600
contributors
199
recipients
10 sponsors
Wokai at a Glance
150 volunteers
2 offices in Beijing, China and
Oakland, CA
.org
Visit the
Website
Spread the Word
Make a Donation
1. 3.2.
How Can I Get Involved?
WOKAI China’s first giving website