July 28th, 2009 - Posted by Human

Home for a Home

ing-micro-loan5

We humans are big fans of microfinance – a great way for people in developing countries to get access to loans that help lift them out of poverty. So far this sector has been driven by not for profit organisations (such as our friends at Kiva) but it’s great to see Dutch bank ING getting involved with their visionary ‘Home for a Home’ program. This program offers families in Bangladesh and India (who have already successfuly repaid a microfinance loan) the opportunity to take out a loan to build a home of their own. How does it work? When Dutch customers take out a home loan with ING, they are given the opprortunity to donate EUR300 to the program, a sum the bank then matches taking the total to EUR600. The loan is made, the house is built and then once the loan is paid back, the money is loaned to another family with the goal of eventually helping entire villages build new homes!

Thanks to springwise.com for sharing this idea and to ING for making a real difference.

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