While browsing through the booths at last week’s Development Marketplace (DM), I rediscovered an organization that had been inspired by the competition. GlobalGiving was founded by the same World Bank executives who created the Development Marketplace in 2000. Encouraged by its initial success, they decided to use the Internet to create a highly efficient online marketplace for international giving – basically a DM-like source of funds for innovative projects that runs 24/7 instead of just once a year.

GlobalGiving's vision is to direct the most funding to the best grassroots projects all over the world. They do this by: 1) providing project leaders access to funding - they are local leaders who are most knowledgeable about the needs of their communities, and 2) allowing donors to compare, contrast, and then select the best projects to be represented on GlobalGiving, thereby providing a more transparent, engaging way for donors to give.

Since its launch, GlobalGiving.com has been growing rapidly and is now seeking new projects to fund. Last month the organization launched a new initiative called the "GlobalGiving Open,” which allows project leaders to submit their proposals for a spot on the GlobalGiving website. The next deadline to submit projects is June 17. After this date, the GlobalGiving community will vote on which projects should be featured on GlobalGiving.com.

To learn more, check out the GlobalGiving website, or contact Saima Zaman with questions.

Attendees of 2004’s Eradicating Poverty Through Profit conference may have only dim memories of the 3-day BOP bonanza (flashes of Scott Shuster, anyone?), but not me. Which brings me to today’s Wall Street Journal, whose front page featured 3 conference speakers in an article entitled “Entrepreneur Gets Big Banks To Back Very Small Loans.” As you rifle through the Rolodex to check if you know the famous ones, keep an eye out for Vikram Akula, CEO of Chicago-based SKS Microfinance – he’s the article’s main attraction, featured for his innovative microfinance practices which cut out waste and maximize return. Author Eric Bellman gets points in my book for excellent quotes from Citibank’s Robert Annibale and ICICI Bank’s Nachiket Mor.