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 Luis Camargo

Luis Camargo is the Founder and Director of the Organization for Environmental Education and Protection (OpEPA). OpEPA is a non-profit organization that holds registrations in both Colombia and the USA and is dedicated to promoting nature-based and regenerative education, heritage...

Conversation with Beth Sawin

Elizabeth Sawin is the Director of Multisolving Institute. Beth is an expert on multisolving actions that address equity, climate change health, well-being, and economic vitality as integrated issues. She developed the concept after studying bright spots around the world where...

How the Philippines tapped on open-source to implement digital identity and improve services

From Yen Ocampo & Yong Shu Chiang / GovInsider: A national identification system called PhilSys has been rolled out in the Philippines in order to create access to social benefits and digital services. Future services may include but are not...

Evanston has an affordability problem – community land trusts can help

From Duncan Agnew / Evanston RoundTable: Through a land trust, Community Partners in Affordable Housing sells homes to buyers at a fixed cost while maintaining ownership of the land they’re built on, allowing those who wouldn’t otherwise be able to...

Conversation with Sarah Queblatin

Sarah Quebaltin, a regenerative design strategist from the Philippines, has 15 years of experience in peacebuilding, cultural heritage conservation, environmental education, and humanitarian assistance. She specializes in designing collaborative ecosystems through innovation labs and learning journeys, transforming Disaster Risk Reduction...

Portland Youth Exercise Power through Participatory Budgeting

From Rebecca Jacobson / Reed Magazine: Through Youth Voice Youth Vote, nearly 800 young people in Portland took part in a participatory budgeting process to decide how to spend $500,000 in American Rescue Plan Act funding. The winning projects, including...