Is Kiva still working to collect the loans from WEEC?
Yes. In coordination with WEEC’s other creditors, Kiva continues to work to collect funds owed to Kiva lenders by WEEC. More importantly, we are also working to transition WEEC’s borrowers to another microfinance institution so that the borrowers will be able to access future microfinance loans. Q: What if Kiva is able to recover additional funds from WEEC? A: In addition to diverting a significant amount of Kiva funds to repay creditors, WEEC did not send any funds to Kiva for over $100,000 in repayments it noted on the website. However, Kiva management has made the decision to still honor the repayments that WEEC had reported. For example, if a lender received notifications that $20 of their loan had been repaid, then Kiva will still provide the $20 in Kiva credit even if Kiva did not receive these funds from WEEC. As Kiva has incurred a ‘deficit’ by providing funds to lenders that it never received from WEEC, any funds that are recovered will first be applied to this deficit. It is
