Facebook for Farmers

April 7, 2009 (Newsweek) With tens of millions of unemployed city factory workers returning to the townships, demand for small loans is growing. But because of current legislation, micro-credit can only expand in China if there are more donations. The trouble is, in this global economic crisis, donor fatigue abounds as do concerns about misused pledged cash.

So China needs innovative and nimble ways round the funding roadblocks. One promising solution is offered by Wokai -– which translates as “I open“. (full article)