"Princeton 5000" raises money for village bank

Last weekend, nine performance groups converged to perform a show to forge a creative solution to poverty. Proceeds from “Princeton 5000 for 5000 ... Princeton Performs for Change” will go toward establishing a village bank in Tajikistan.

Alison Carey ’11, PMO member and event organizer, said she thought 5000 for 5000 would be an opportunity to “mobilize the student body to make a difference in the world.”

The roster included Sympoh, BodyHype, eXpressions, Capoeira, Naacho, Tigerlilies, Nassoons, Black Arts Company-Dance and Raks Odalisque. All the groups agreed to participate free of charge.

PMO member Jake Hiller ’10 emphasized that the groups’ volunteering allowed for “no costs to be associated and 100 percent of the proceeds to go directly to FINCA.”

According to its website, the Foundation for International Community Assistance (FINCA) is a microfinance program established in 1985 that provides low-interest-rate loans to low-income villagers, allowing them to borrow funds and participate in trade and small enterprise.

“In making traditional financial services available to people without access, we can address other issues associated with poverty, like health and education,” Carey said.

Carey explained in an e-mail that the student group plans to meet its $5,000 goal by December. PMO president Ankit Bhatia ’10 said in an e-mail that this weekend’s ticket sales of $2,000 “exceeded expectations.”

Once the goal of $5,000 is met, Carey explained, the Princeton village bank will be located in Tajikistan, which FINCA chose as a target for microfinance resources. According to the CIA World Factbook, 60 percent of people in Tajikistan live below the poverty line.

Hiller said the two main goals of 5000 for 5000 were to raise funds to establish the Tajikistan village bank as well as to increase the exposure of PMO.

Carey explained that the group’s goals included both “raising awareness and taking action.”

Bhatia said that 5000 for 5000 was only the first project for PMO this year. The group is also developing a seminar series, which will focus on microfinance as well as on other financial services. Also in the works are microfinance-related internships for Princeton students.

Bhatia said PMO would be open to additional projects and fundraisers because it is “a new, flexible and unconventional student group.”