Flipping traditional aid schemes on their head, GiveDirectly has been handing out cash grants—with no strings attached—for more than a decade. In 2020, it became the fastest-growing nonprofit in the world.
to cash transfers targeting people who lost income due to Covid-19 in Kenya, Malawi, Liberia and Rwanda.
At the height of the crypto boom in February 2021, Musk sent GiveDirectly $10,000 worth of Dogecoin. In typical Musk fashion, he announced the donation in a casual Twitter reply. “Just sent some,” Musk responded to Ethereum founder Vitalik Buterin, who also tweeted that he donated to GiveDirectly. A month later, Dorsey sold an NFT of his first-ever tweet and donated 100% of the proceeds, worth $2.8 million, to GiveDirectly.
After reading studies about the effectiveness of cash transfers, the friends wanted to find a charity that would allow anyone to give their money directly to the poor. They couldn’t find one, so they decided to start their own. The advent of mobile money—the ability to send people money on their phones—made the idea feasible. “What didn’t exist out there was an end-to-end channel for a donor to transfer money to someone living in extreme poverty. And we had looked for it initially,” Faye says.
GiveDirectly has a lot of appeal for effective altruists. For donors prioritizing efficiency like Bankman-Fried, GiveDirectly is transparent about the proportion of each dollar that goes directly to recipients — 94% across all its programs. Cash programs bypass government bureaucracy and the cost of administering unconditional direct cash programs is typically lower than other kinds of aid programs.
France Dernières Nouvelles, France Actualités
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