A $62 Million Dollar Mistake

17 June 2009 at 07:35 2 comments

Ashley Nelsen KF 7/8 Nicaragua

The latest news from Nicaragua has unfortunately been the decision by the United Nations to cancel $62 million dollars worth to funds destined to assist in the Millennium Development Goals (MDGs). The MDGs are eight goals created by the United Nations to combat some of the developing world’s most pressing problems such as improved access to education and health. The decision to revoke the funds is a direct result of electoral fraud that occurred last fall during the mayoral elections. People were denied access to vote, votes were not counted, and many of the international watch groups were denied full access to oversee the electoral process.

It was therefore determined a fraud by observers from the European Union, the Carter Center, and the Organization of American States. While the fraud is old news, the cancellation of funding has been in the headlines since the announcement was recently made. Taxi drivers, store owners, co-workers- anyone who can get my attention seem to want to tell me, the foreigner, how embarrassed and worried they are that their government has allowed this to happen.

The cancellation of funds and an expanding economic crisis has left the majority of Nicaragua’s poor without a support system. In a country where 45% of the population lives on less than $2 dollars a day, it is important that Kiva lenders continue to support Kiva loans and other forms of development in Nicaragua. Clients of ADIM, the MFI where I currently work, used to tell me that their business goal was to “expand their business,” now the answer I regularly get is to “survive the economic crisis.”

Crater lake and volcano in Nicaragua

Crater lake and volcano in Nicaragua

To support current ADIM loans currently fundraising please click here: http://www.kiva.org/app.php?page=businesses&partner_id=120&status=All&sortBy=New+to+Old

For more information on the electoral fraud in Nicaragua please read: http://www.economist.com/world/americas/displayStory.cfm?story_id=12607338

Entry filed under: KF7 (Kiva Fellows 7th Class), KF8 (Kiva Fellows 8th Class). Tags: , , , , , , , , , , , , , , .

The Cows of Cochabamba ¡Adios, Arariwa!


  • 1. Sam Grant  |  22 June 2009 at 17:47

    Hi Ashley,

    My name is Sam Grant and I am managing the green lending unit of XacBank in Mongolia. We currently have a Kiva Fellow and she informed me about your research. I would love to talk with you about your research over skype perhaps. If not any information you can share would be appreciated.

    All the best,

  • 2. Unilove  |  17 June 2009 at 20:41

    It is not the fault of the common people that the funding has disappeared, and they must still provide for their families and their children’s educational needs. It is sad that the MFI has had to change their enthusiasm to one of cautionary hope, but as a lender, I wish to help, not penalize or politicize things. The more we learn, the more we lend, as I say…

    Thank you for this post,
    Unilove aka Lisa

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