Mongolian nomads create shared funds and financial security

From Sarah Trent, Khaliun Bayartsogt / Devex: Herders in Mongolia have resorted to cooperative shared funds to keep their pastures afloat, a sign of a slow tilt towards greater collaboration and trust in the area. The shared funds act as a way for herders to borrow and lend money among themselves, helping local communities build financial security in a time when climate change is negatively impacting their pasture land.

Click here to read the original story.

Read other original stories covering financial security.

Issue Areas:

Community Food Systems, Community Wealth Building, Sustainable Farming

Impact Areas:

Creating New Economic Paradigms, Distributed Trust and Power, Redefining Institutions

Actors:

Farmers, Government, Nonprofit / NGO

Communities Served:

Communities Experiencing Economic Hardship, Farmers

Strategies:

Collective Action, Designing Culturally Specific Solutions, Easing Economic Burdens for Individuals, Increase Education / Insights Sharing

Success Factors:

Building Distribution Systems, Building Trust, Collective Action, Community Control and Ownership, Eliminating Barriers, Overcoming the Big Challenges, Using Creative Financing

Geographic Region:

Asia

Countries:

Mongolia

Date:

October 2, 2019

More Resources:

Conversation with Ledama Masidza

Ledama Masidza is an emerging young Kenyan leader in marine conservation and community empowerment, fueled by an unwavering love for the ocean. Advocating for sustainability, Ledama drives transformative initiatives that champion community-led conservation and sustainable policies. Ledama Masidza spoke with...

What one county agency is doing to keep its employees whole

From Cheryl Splain / Knox Pages: The Knox County Department of Job & Family Services has implemented a two-pronged approach to improve the wellbeing of employees. One addresses immediate needs through counseling and additional employee benefits and then a longer...

Conversation with Tara Campbell

Tara Campbell (she/her) is a designer specializing in change-enabling collaborative processes. In her role at the David Suzuki Foundation, she is working alongside a national network of organizations, alliances, and individuals to accelerate the transition to economies that prioritize wellbeing...

What Germany’s Coal Miners Can Teach America About Medical Debt

From Noam N. Levey / KFF Health News: Germany, like the U.S., has a largely private healthcare system that relies on private doctors and private insurers. Like Americans, many Germans enroll in a health plan through work, splitting the cost...

Conversation with Gary Belkin

Gary Belkin is the Director of the Billion Minds Project. Formerly Deputy Health Commissioner for New York City, he founded the Billion Minds Institute to bring policy and practical attention and change for taking on the “social climate” crisis of...

Portland group works to make wealth redistribution a reality through real estate

From Tiffany Camhi / OPB: Volunteers of the PDX Housing Solidarity Project are working to redistribute generational wealth through homeownership in Portland. The project connects people with ample resources to Black and Indigenous homebuyers and helps facilitate cash gifts, no-interest...