Building Code To Break Poverty In Bangladesh

TechCrunch

Teaching people in the third world how to code seems to be a growing trend that may just help to break the world-wide poverty cycle. Danish-based microfinancing operation CodersTrust is starting to do just that with a test group of 100 Bangladeshis.

“Nine out of 10 coders on sites like oDesk suck,” says CodersTrust co-founder Ferdinand Kjaerulff. It’s a problem he and cofounder, Skype angel investor, Morten Lund wanted to solve. They saw a big opportunity with coders in the third world and created their microfinance organization to give those below the poverty line a chance at better education, starting with Bangladesh.

CodersTrust works by first identifying people on oDesk who seem to have a good work ethic. The founders then approach them about going into the program and offer them a micro loan of $2,000. The loan comes in increments tied to their progress. For example, they get paid a certain chunk each…

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