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 Yara Tarabulsi

Yara Tarabulsi is a social anthropologist with experience in topics of gender justice, care, economic justice, migration and public policy. She has a Master’s degree from the University of Oxford and a Bachelor’s from the American University of Beirut. She...

Conversation with Tasnim Elboute

Tasnim Elboute coordinates the High Atlas Cultural Landscapes Programme of the Global Diversity Foundation, focusing on biodiversity conservation and sustainable livelihoods to advance community-led development and environmental justice in Morocco. She plays a key role in fostering partnerships and implementing...

Conversation with Andrew Schwartz

Andrew Schwartz is a Senior Advisor at The Common Initiative, working within a collective of experts on biodiversity, climate, human rights, and economic reform. Previously, as Director of Strategic Initiatives at the Center for Earth Ethics, Andrew led efforts to...

India Post making banking services available to all

From Times of India: A campaign in Prayagraj region of India aims to increase the number of users of digital banking. This campaign increases access to digital banking which is particularly useful for those who are physically disabled, older citizens,...

Conversation with Cassandra Ferrera

Through the work of ethical land transitions, Cassandra works to transform conventional real estate practice in service to Land, cultural reunion, and reparative justice. Becoming a person of place is Cassandra’s orienting cosmology, and her activist real estate career is...

Conversation with Sheeza Shah

Sheeza Shah is Founder and Managing Director of UpEffect, a crowdfunding and social impact consultancy shaping a benevolent economy through equitable finance and strategy. Sheeza has spent the past decade in the tech, non-profit, and social enterprise world project managing...