|Kamari, Dir of Lending at UOB, Mr. Jeon, Sungeun on UOB Day|
MYI has signed an MOU with UOB for collaboration in 2012, particularly in micro finance as the first step. MYI is going to work with UOB in designing and implementing a tuition fee loan program targeting secondary students and will establish a loan guarantee fund to provide a risk mitigation scheme. At the same time, MYI will introduce P2P micro lending program in S. Korea to mobilize individual lenders through MYI's new platform, namely Story Money. To facilitate this effort, MYI has sent an intern to work at UOB for a year. We are excited about this collaboration opportunity to expand UOB's product line as well as to help introduce a new P2P donor mobilization program in S. Korea.
|MYI Delegates for MDG meeting in Nairobi (Aug 2011)|
Based on international standards, MYI's effort may be still insignificant, but it is significant in a sense that S. Korea is fairly new to international development and it is one of only few organizations that are showing serious interest in international development. S. Korea is known as the first country in the world, which has transformed successfully from a foreign aid receiving country to a giving country.
May the good Lord bless this partnership to help bring greater blessings to many people in both Rwanda and S. Korea! - Jeffrey