Wokai is a non-profit organization committed to enabling people in China to lift themselves from poverty. Visit their homepage or watch their promotional video.
Below is an announcement for a Wokai event in Beijing tomorrow and a Q&A.
Announcement: Wokai proudly presents Drinks for a Better World
Tuesday, February 3 at 7pm at Blue Frog
This is a great opportunity to meet people who share an interest in microfinance, philanthropy, corporate social responsibility, energy efficiency, and related topics.
Until 8pm, drinks are buy-one-get-one-free.
After 8pm, 25 yuan for beers, house wines and house pours.
Wokai Q&A
Who started Wokai and what is its mission?
Casey Wilson and Courtney McColgan founded Wokai in 2007, when they were studying Chinese together at Tsinghua. The two Americans shared a common vision: to increase the international focus on microfinance in China, and address the constraints that have limited its impact here. After extensive research, brainstorming, and time in the field, Wokai was born. Our mission is to enable people in China to lift themselves from poverty.
How does the system work?
On Wokai.org, you can browse through stories and photos of entrepreneurs in rural China. For example, you might choose to donate $10 to fund part of Mrs Wei’s $600 loan to start a noodle stand. We transfer these funds to our Field Partner (a microfinance institution or MFI) that works directly with Mrs. Wei. Over the next year, she will repay this loan in bi-weekly installments. Once she fully repays her loan, you may reinvest your contribution to fund a different entrepreneur. We work closely with our Field Partners to ensure that you know exactly where your money is going.
Are you expecting more donations from outside China or inside China?
Due to local regulations, we can’t raise funds within China. We’ve built our network of supporters through our chapters in the United States (currently in San Francisco, Seattle, and New York, with 75 volunteers in all). People with a connection to China have been especially enthusiastic about Wokai, and we’re hoping to expand our chapter network in the coming years.
How many microfinance institutions do you work with, and how many entrepreneurs?
So far we work with two microfinance institutions (MFIs). Our first is the Chifeng Zhaowuda Women’s Sustainable Development Association (CZWSDA) which works exclusively with women in Inner Mongolia. Since October 2008, when we first launched our site, we’ve provided loans to 24 entrepreneurs. Their businesses range from noodle stands to tea shops to pig farms. In a few weeks we will begin uploading profiles from the Association for the Rural Development of Yilong County (ARDY), located in northeastern Sichuan. Many of ARDY’s clients were affected by the May 12 earthquake, and we look forward to bringing their stories to the world.
How are you funded?
Thus far, Wokai has been funded by angel investors, grants, and an email-based fundraising campaign through our chapters. We are largely volunteer-driven, which means that our “burn rate” is relatively low. We are especially grateful for the advisors, designers, engineers, financiers, lawyers, and programmers who have made this possible.
Any special technology that makes your system work?
Our Chinese web developers have built Wokai.org on the open-source XOOPS platform. Recently, Larry Sun, a software engineer at Google in Silicon Valley, has stepped on as our Product and Technology Director, and we are so grateful for his input on prioritizing new features.
Are you China-specific, and do you have plans to grow to other regions?
Yes, we focus exclusively on China, because China’s legal and social conditions deserve special attention. In the future, we hope to expand beyond microfinance, to provide a personal connection to a wider variety of philanthropic projects in China.