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Author Topic: PERU: KivaFriends Forum's Honorary Country of the TwoWeeks #2  (Read 23343 times)
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rebecca
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« Reply To This #30 on: July 08, 2009, 09:13:33 PM »

So, I see the point.  I try to lend in Africa, especially in the poorest countries in Africa, for just that reason.  Nevertheless, I have been to Peru (and not to Africa) so I know the poverty there is still very painful, and since I was there during an earthquake, I felt for those people who lost the little they had.  Plus, the loan time in generally short in Peru, so you can help more people overall.  I know what you're saying...I generally loan to poorer countries (actually I like to look at life expenctancy..when the expectancy is lower than my age, that motivates me!) but I also think that in Peru there is enough infrastructure, etc, to really help people.  in other words, money can launch people more easily, even though perhaps they need it a bit less than, say, Mozambique. ...\\Also, the people there were so nice, and the food was so good, I can not think about it without found rememberance. There were a lot of women in crafts, especially textiles, who worked for multiple hours for peanuts on beautiful things. I pick poor African countries first...then i go to Peru. 
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Diane R
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« Reply To This #31 on: January 29, 2010, 10:54:53 AM »

Charity posted last night about the recent mudslides and evacuations in Peru, near Machu Picchu.  Rather than continue the discussion in the "Visiting Peru" thread, I thought it best to move it here, since the devastation is far more widespread than just at tourist sites in the country, and Kiva MFIs and their clients will almost surely be touched.

Below are links to several articles (all on one Peru blog site, but seemingly reputable) detailing the effect of the recent torrential rains, which is not just confined to the Machu Picchu area.  Cusco, Urubamba, Pisac, Ollantaytambo, Huancavelica all have been declared disaster areas, with deaths, crop destruction, and extensive property and infrastructure damage reported -- many of these place names should sound familiar to those of you who lend in Peru.  Kiva has multiple partners in Peru (and over 10% of my Kiva loans are to entrepreneurs in that country), and I imagine some Kiva partners have been affected.  I hope we hear news of their status soon.  (This is a perfect time to test Kiva's "natural disasters policy", I'll post on the Liaison thread to ask Kiva to report on the status of lenders from this region who may appear on the site from here out.)  This first link highlights the extent of the damage.

http://enperublog.com/2010/01/26/emergency-declared-in-cusco-heavy-rains-flood-the-region/

Other related articles about archeological sites:
http://enperublog.com/2010/01/28/access-to-machu-picchu-completely-destroyed/
http://enperublog.com/2010/01/26/thousands-of-tourists-trapped-at-machu-picchu-sacred-valley-cut-off-rescue-plans-need-re-think/
http://enperublog.com/2010/01/14/torrential-rains-in-cusco-damage-inca-wall-at-sacsayhuaman/


--Diane.
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charity
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« Reply To This #32 on: January 29, 2010, 01:44:59 PM »

I am so sad to hear that the extent of damage is so much worse!   Cry Thank you for the update Diane.
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Kay
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« Reply To This #33 on: January 29, 2010, 02:50:30 PM »

Yes, this is really something, I see, probably attributable to El Nino.
http://www.cpc.noaa.gov/products/analysis_monitoring/enso_advisory/ensodisc.html

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Expected El Niño impacts during January-March 2010 include drier-than-average conditions over Indonesia and enhanced convection over the central tropical Pacific Ocean, which will likely expand eastward and influence portions of the eastern equatorial Pacific, as well as coastal sections of Peru and Ecuador.

This hardly tells the "whole story," though, as El Nino can have nearly global impact, affecting different regions differently.
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KFLiaison
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« Reply To This #34 on: January 29, 2010, 03:05:13 PM »

I have been in contact with Gerard in regards to Peru and the MFI's there. 
I just received word back from him with a bit of information:

Quote
The initial information we have is that it has had some impact on our Field Partner Arariwa. We're not quite sure about the extent of that yet. Our Partnerships team is checking in with them, and will post to the blog when we have more information.

As to the natural disaster policy - we allow our Field Partners to essentially "unguarantee" loans that have repayment guarantees (which you can see on the entrepreneur's profile page). However, if any lender decides that they want the Field Partner to honor the guarantee, despite the disaster, we can mark that particular loan share for repayment, and charge the partner for the loan share payments due to that lender.

In this case, Arariwa does not have the "default protection".  So this would not apply to their loans, unless some of their earlier loans did carry the "default protection", I have not looked back to far.  The above is in addition to the part of the policy that was discussed in the November Conference Call.

Quote
Regarding a natural disasters policy: the new Kiva policy is going to be that if a loan was completely raised (posted and fully funded) before the disaster, then the decisions were already made & the funds can be disbursed.  For unfunded/unlisted loans, Kiva would ask the MFI to represent that those businesses were still live, or will stopped fundraising from the MFI and refund partial fundraising to that point.

So please watch for more updates on the kiva blog.
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charity
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« Reply To This #35 on: January 29, 2010, 03:19:45 PM »

Quote

They have a couple videos on this page taken by tourists on the last train back from Machu Piccu before the tracks were wiped out.  I think I would have been terrified to be on that train!  The river is just pounding with the raw power of flooding waters seemingly only a few feet from the train, and I think I saw a couple bits of video that showed water had eroded the berm right up to the tracks already, in a couple spots.  It looks like they were lucky the tracks weren't wiped out while a train was on it...   Shocked
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Diane R
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« Reply To This #36 on: January 29, 2010, 03:25:09 PM »

Thanks for getting in touch with Gerard so promptly, Charmaine.  I'm very sorry (but not surprised) to hear Arariwa's clients were likely affected, as they are my favorite Peruvian MFI.  There's one part of the "natural disaster policy" that I wanted to be sure got clarified, though, if I may?

Quote
For unfunded/unlisted loans, Kiva would ask the MFI to represent that those businesses were still live...


In other words, it's not impossible that Arariwa, or another MFI, would have already submitted loans into the funding queue for entrepreneurs whose businesses (especially agricultural) were damaged or perhaps destroyed in the recent rains.  While this may be an even more compelling reason to fund such entrepreneurs if they're trying to rebuild or re-establish their livelihood, my understanding was that loans in the queue from any affected MFIs (which are still being identified now) would be reviewed to be sure they carry a notice about the entrepreneur's status (assuming their business still exists and will be continued) when they *are* posted for funding.  The posting and funding of loans for businesses which no longer exist is what would be avoided.


And Charity -- I've been on that train, and it's a precarious journey in the calmest of weather.  Those videos were startling.

thanks again,
--Diane.
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Harvey:)
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« Reply To This #37 on: January 29, 2010, 04:19:21 PM »

Quote
Quote from Gerard (to Charmaine as KF Liaison):
As to the natural disaster policy - we allow our Field Partners to essentially "unguarantee" loans that have repayment guarantees (which you can see on the entrepreneur's profile page). However, if any lender decides that they want the Field Partner to honor the guarantee, despite the disaster, we can mark that particular loan share for repayment, and charge the partner for the loan share payments due to that lender.
This is the first time I have ever seen or heard of this particular policy (which un-guarantees loans that have repayment guarantees).

Regardless of whether or not a lender is in agreement with this new disaster policy, the policy should be and should have been posted in an easily accessable place so that lenders are aware of it.

Now I know why my 9 "delinquent" ASHI loans are "not covered" (any more) for defaults and the 12 "current" ASHI loans are still "covered" for defaults. And, it also explains why my one "delinquent" CCT loan is "not covered" but the "current" CCT loans are "covered' for defaults. It would have been better to have known about this new policy as soon as it was enacted instead of having to wait for another disaster to occur in order to discover this new policy.


Judy


PS: I just want to add that I do not mind losing the money in a disaster situation. After all, the borrowers really need the money during a disaster. What I am saying is that these policies should be in a central place where they can easily be found.
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"Anyone who has accustomed himself to regard the life of any living creature as worthless is in danger of arriving also at the idea of worthless human life."   - Albert Schweitzer
Kay
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« Reply To This #38 on: January 29, 2010, 04:52:33 PM »

It looks like they were lucky the tracks weren't wiped out while a train was on it...   Shocked

No kidding.  Shocked
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wind5001
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« Reply To This #39 on: February 01, 2010, 03:08:55 AM »

I just sent an email to contactus regarding the new disaster policy, which I find quite disturbing, even if I might agree with the outcome.

"Dear customer service,

...

Now, there might be one or two issues with this: In the real word (i.e. not Kiva world), Kiva is facilitating a loan from lenders to the MFI. For that, the parties are entering a contract. Since Kiva says that it cannot be held accountable for the contract, I figure from a legal perspective, we are entering into a contract with the MFI, and Kiva enables us lenders to do just that. A contract, and that is the most basic of the basics of contract law, can only be changed with both parties agreeing to the change. Since lenders are not even being informed of that change, they most certainly do not agree to that. Even if the contract lenders enter into is with Kiva, the same principle applies.

Even if your smallprint allows for this kind of action, you still have to inform lenders about changes to the way you run things. Since this has been a constant issue with Kiva's management, I simply do not see that there is any kind of understanding of this concept. It happens again, and again and again that you change things and do not inform lenders. When will you get the message? I guess not as long as you keep getting away with it...

It upsets me, and it frustrates me. Once again: The lenders do not agree to a one-sided change of terms. The terms are clear and they are published. If Kiva chooses to change them, it has to inform the lenders. What kind of option is the recovery option you so graciously grant, when no one knows it even exists? The problem started with you publishing "default protection" information. There are now lenders that might only look for those loans. You change the whole basis of the contract by taking that away.

Sincerely,
Oliver"
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