Briefs: eBay founder gives $100M for microfinance

Nov 04, 2005

The founder of eBay said Friday he will donate $100 million to Tufts University to be invested in microfinance.

The donation by Pierre Omidyar, who founded the online auction house a decade ago, is the single-biggest cash donation to Tufts to date.

The president of the university, Lawrence Bacow, stated Omidyar wants his alma mater to help "generate capital to empower people to lift themselves out of poverty throughout the world, while at the same time generating investment returns to support the university's key priorities."

Microfinance allows some of the world's poorest people to borrow small sums of cash to invest in their businesses.

Copyright 2005 by United Press International

Explore further: Audi to develop Tesla Model S all-electric rival

add to favorites email to friend print save as pdf

Related Stories

Google donates $2 million to support Wikipedia

Feb 17, 2010

(AP) -- Google Inc., the Internet's most profitable company, is giving $2 million to support Wikipedia, a volunteer-driven reference tool that has emerged as one of the Web's most-read sites.

Recommended for you

Audi to develop Tesla Model S all-electric rival

15 hours ago

The Tesla Model S has a rival. Audi is to develop all-electric family car. This is to be a family car that will offer an all-electric range of 280 miles (450 kilometers), according to Auto Express, which ...

A green data center with an autonomous power supply

20 hours ago

A new data center in the United States is generating electricity for its servers entirely from renewable sources, converting biogas from a sewage treatment plant into electricity and water. Siemens implemented ...

After a data breach, it's consumers left holding the bag

21 hours ago

Shoppers have launched into the holiday buying season and retailers are looking forward to year-end sales that make up almost 20% of their annual receipts. But as you check out at a store or click "purchase" on your online shopping cart ...

Can we create an energy efficient Internet?

21 hours ago

With the number of Internet connected devices rapidly increasing, researchers from Melbourne are starting a new research program to reduce energy consumption of such devices.

Brain inspired data engineering

22 hours ago

What if next-generation ICT systems could be based on the brain's structure and its cognitive and adaptive processes? A groundbreaking paradigm of brain-inspired intelligent ICT architectures is being born.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.