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From cakes to US$1.1m
By William Yang |
December 26, 2012, Wednesday
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Print Edition
Print Edition
ONE of the most noteworthy charity efforts students have undertaken in Dulwich College Shanghai is the practice of microcredit: the provision of small, low-interest loans given to low-income clients to alleviate financial difficulties and empower communities.
In April, we started as a group of volunteers and began by planning bake sales and other small events.
Our first bake sale made 2,000 yuan (US$321) which we distributed to Chinese agricultural projects.
We have come a long way since then. Instead of bake sales, we now seek donations from corporations as well as private benefactors. We manage a highly diversified loan portfolio with US$1.1 million in financial impact.
We have expanded to a multinational level: our current loan portfolio encompasses 40 nations, most in Africa and Latin America. And instead of a small group of volunteers, we now have a board of directors.
To date, we have financed the educations of doctors, lawyers, nurses and entrepreneurs.
In April, we started as a group of volunteers and began by planning bake sales and other small events.
Our first bake sale made 2,000 yuan (US$321) which we distributed to Chinese agricultural projects.
We have come a long way since then. Instead of bake sales, we now seek donations from corporations as well as private benefactors. We manage a highly diversified loan portfolio with US$1.1 million in financial impact.
We have expanded to a multinational level: our current loan portfolio encompasses 40 nations, most in Africa and Latin America. And instead of a small group of volunteers, we now have a board of directors.
To date, we have financed the educations of doctors, lawyers, nurses and entrepreneurs.
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