Encouraging Economic Development

: Image via Wikipedia

I’m in the middle of reading In the River They Swim, a collection essays written by various individuals from the governmental, for-profit, and not-for-profit sectors with a common thread of fight poverty through enterprise solutions. Once I’ve completed the entire book, I’ll compose another blog entry to record my thoughts and observations on the whole collection….a personal book review of sorts.

Right now, I can’t help but be encouraged and inspired by the first essay written by President Paul Kagame of Rwanda. The Rwandan leader’s personal view of his country’s future is one full of optimism and great promise. In a Financial Times op-ed piece, President Kagame suggests that Rwanda and other African countries must wean themselves off of foreign government assistance (not to be confused with humanitarian aid). Instead of relying on foreign aid, governments should be providing the infrastructure that encourages economic development — which leads to job creation and poverty reduction. President Kagame states that he continues to support existing industries — such as coffee, tea, and tourism (as stated in the FT piece) — and looks to develop new industries — such as communications/information technology, financial services, and education (as indicated in his essay).

When asked what he wanted to do when he was older, a young man told President Kagame he wanted to start his own private business. President Kagame and his administration are committed to making that young man’s dream a reality.

The end of his essay sums up his role:

“Our job in leadership is to provide opportunities. We must use the means available institutionally to do the things that will help people develop their capacities, their potential, and their talents and then allow them to compete….I consider entrepreneurship to be, simply, the backbone of a new Rwanda….” (p. 14)

How’s does someone living on the other side of the world support President Kagame’s campaign to encourage entrepreneurship and alleviate poverty? In my case, I made a Kiva microloan to a Rwandan entrepreneur named Helene. Helene runs a stationery store/photocopy center and is using her microloan to expand her business. Thanks to Kiva, individuals from around the world can help create the opportunities mentioned by President Kagame.

: Image via Wikipedia

On a personal note — I am very enthusiastic that, in my homeland of the Philippines, President Gloria Macapagal Arroyo has made microfinance and the development of small/medium enterprises (SMEs) centerpieces in her administration’s agenda. There are several microfinance instiutions operating in the Philippines, and Kiva is currently partnered with eight organizations that provide microloans to Filipinos. I am grateful to Kiva for the opportunity to help others out of poverty through economic development, not just in the Philippines, but in all parts of the world.

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