Globalizing the local

I love the concept of "Microcredit" made famous by Muhammad Yunus of Grameen Bank in Bangladesh. I was just thinking that we should be able to do this on a large scale. Basically unshackle the people from the clutches of high interest rate (either from the local lords or banks) and democratize the capital. Oflate, I read couple of articles that talked about 4-5 websites that do this, a significant one is www.kiva.org. (http://www.businessweek.com/magazine/
content/06_31/b3995088.htm?chan=search)

I was listening to the interview of Tom Friedman by Tim Russert today. During the conversation, Friedman, explained that the current phase of globalization as "Globalizing the local"!

Actually, Kiva.org is one such instrument it globalizes the capital needs of the local.

There may be many people with many ideas but only a few has to courage to make it happen and these guys have done it.