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Hubby received a gift from our daughter for him to pick out a person to give a micro loan to. He picked Ariunzaya in Darkhan, Mongolia.
Mrs. Ariunzaya is 32 years old and she lives with her husband and 2 children in Darkhan, the second largest city of Mongolia. They live in their own flat in the center of Darkhan.
Mrs. Ariunzaya is a teacher of Mathematics in the local secondary school. Her son attends a secondary school and her daughter goes to the local kindergarten. Her husband runs a taxi business, using his family car, carrying passengers between Darkhan and the capital city, which is 220 kilometers away. On average, he makes one trip per day to the capital city, occasionally two. Mrs. Ariunzaya’s father is a former taxi driver and he is unemployed at the moment. Mrs. Ariunzaya wants to buy an another car to use for the taxi business as well. Her father will act as a taxi driver to earn some extra income for the family. Mrs. Ariunzaya is going to use her family’s savings, but needs some money on top of it to buy a car with lower mileage.
The loan that Mrs. Ariunzaya is taking will be used to buy the second hand car and to use it for taxi business employing her father and to increase her family’s income.
Amber had given me a $25 gift certificate for a Kiva loan, for Mother’s Day. I selected a loan from someone in Mongolia, and actually one of the areas that we visited during my visit to Amber, over 2 years ago. I’m interested to see how this works out! Here is the specific link to Buyanravjih. http://www.kiva.org/lend/304675
Uvurhangai, Mongolia Food | Grocery Store
This loan has been fully funded!
A loan of $2,850 helped Buyanravjih to purchase more grocery products.
26 months (more info)
May 25, 2011
Jun 4, 2011
Currency Exchange Loss:
Buyanravjih is a 63-year-old widow who lives in a rented house in the province of Uvurhangai in Mongolia. All of her children have grown up and live separately. In 2000, Buyanravjih started a grocery trading business at a rented stall in the Zanabazar trading center and has gained much experience, managing to build a strong customer base and expand her operation. She has also developed long-term and transparent relationships with her partners and suppliers.
A hardworking and honest woman who is planning to continue her business in the future, Buyanravjih says, “I want to build savings with the earnings I make.” She is now requesting a 3,500,000 MNT loan to purchase more grocery products to increase her business sales.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.
About the Country
Avg Annual Income:
Mongolia Tugriks (MNT)
1,233.0000 MNT = 1 USD
107 lenders to this borrower
New content on Amber’s Kiva happenings.
Amber is coming home for the her sister’s wedding. We had to schedule it, so that when she goes back to the Peace Corps, she’ll not have left the country 90 days prior to her last date. Oh, and we’ll be getting a new family member at that time…….a Mongolian Kitty! Grace is looking forward to that.
Here is a new post that concerns Amber’s Kiva activities.
And here are some interesting facts about the K14 group, that Amber is a part of from the Kiva organization….
Take a look at Amber’s new blog post with her adventure in Mongolia, as a 3rd year Peace Corps Volunteer Leader, and KIVA person!
Amber looks forward to using her two years of experience as a Peace Corps Volunteer to assist me in my Kiva Fellowship. Please follow Amber over the next year as she tries to give you a look into Mongolian borrowers, culture and business practices, among other things.
Amber Barger in an rural area outside of Uvurkhangai Province, Mongolia