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A New Way to Finance Sustainable Development Projects?

The idea for a fund for small investors came to me this morning. Why isn't there a way for many small investors to pool resources and support "green" technology and similar work. Many businesses are too small for venture capital and too big for micro credit. An investment model that combines Kiva.org with something akin to a mutual fund might be useful to people who want to invest in sustainable development and not just make a donation now or buy some fair-trade chocolate on the weekend.

I imagine this fund would invest in key technologies or business services that promote socially and ecologically sustainable development. Water conservation, environmental remediation, renewable energy, and sustainable agriculture would be some key areas of investment. There are probably other areas too. The point is to invest in business ventures that stand a chance of making money and that contribute to communities and/or to environmental quality.

The fund could have a geographic focus, in addition to focusing on a few types of business ventures. Based on an article I read yesterday, the right geographic focus might be Africa. The subject of that article was really the Internet, but given the continent's huge potential why not look into sustainable development projects too? In fact, why not have two funds, one focus on Internet technologies and one on a subset of "green" businesses?

I admit this is an idea that I pulled out of thin air. What I described here is really just the seed of a good idea and might not be any better than what investment vehicles happen to exist now. Or, maybe I am wrong? More brainstorming and data collection are in order.
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