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COMMENTS: Pennies for Peruvian Pottery
CBS' Daniel Sieberg set off from a small saver's Harlem apartment on a trip to the remote Peruvian village of Villa El Salvador in order to lavish free publicity on microplace.com, an online investment site that attracts microloans for small businesses in the Third World. The Website's funds are bundled through Calvert Investments for banks such as Edyficar in Peru. Edyficar, in turn, has lent a total of $10,000 to Paulina Atahja, who runs a craft pottery making decorated bull statuettes. Sieberg returned to Harlem, painted bull in hand, with the news that a sliver of Peruvian poverty has been relieved and an annual 3% rate of return is secure.
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