Global Partnerships

Global Partnerships, a Seattle-based organization that partners with Latin American micro-credit lenders, showed the power of commerce in the developing world when it featured two retailers from opposite poles. Dolores Maritza of El Salvador spoke of how a micro-credit loan for $500 helped her build a store that changed her life. Jim Sinegal, CEO of Costco spoke of his experience with President Kagame of Rwanda. A personal relationship with the country ultimately led to a business relationship. Costco now buys 25 percent of the country’s premium coffee. Sinegal introduced Kagame to Schultz of Starbucks. That company is another major buyer of the country’s coffee. Sinegal says he is now examining the possibility of getting other supplies from the country including, perhaps, detergent.

Micro-credit helps get the wheels of commerce going. But there is nothing like having a big buyer like Costco to really make a difference.

Separately, Sinegal says he expects Christmas to be better than a lot of people think it’s going to be. But even if the economy is improving, he says, “tell the six to seven million unemployed that.” It is refreshing to talk to a CEO like Sinegal who sincerely cares about his employees, the unemployed in this country, and the poor across the world.