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My dear friend Eleanor has been visiting for several days from London, as part of her North American odyssey. We’ve had a grand time together, but even more, her travel blogs are simply fantastic. Check out Urbantics here.

I have learned so much about my own backyard (like the SF Streetcar Museum), to say nothing of places like Chicago and Toronto… a real delight, and about as close to “armchair travel” as someone like me is likely to get! The only downside to our adventures was my bicycle theft — stolen in broad daylight at the Ferry Building Farmer’s Market. Little did I know, as we munched happily on pluots, Asian pears and figs of all sizes, that someone was taking a pair of giant cutters to my lock. Sigh.

I miss both Eleanor and my Specialized Dolce road racer dearly now, so thank goodness for insurance — though nothing can replace a good friend! Methinks it’s time to review and re-post another one of my travelogues from the past…

After not weeks but literally months of difficulties with Flickr uploader (including admittedly stretches of time in which I just gave up trying to trouble-shoot — even with help from the Flickr experts), several sets of photos from this year are online. Here’s the shortlist of links:

Southern India (Tamil Nadu, Karnataka — March / April 2008)

Romania and Bulgaria (July 2008)

Ella and Amelia’s SF visit (and other summertime antics)

Titles and tags will likely still take some time, but for now long live the Flickr gods — and may they continue to smile upon my laptop as they have today…

Last night I went to a reception for MicroBike USA and the One Hen children’s book about microfinance.  The event was co-hosted by Wokai, SVMN and Accion and featured the six MicroBikers who cycled across the USA to raise money for — and awareness about — microfinance, along with One Hen author Katie Milway Smith.

It was a unique opportunity to further expand the microfinance community to include “younger” generations, whether university- or elementary school-age.  My only complaint was that, if the event is titled “Youth in Microfinance” and the goal is to educate and excite youth about global economic development, then do not host it in a venue that is over-21s only.  To have to turn away the very people who you want most to attract seems to me not only counter-productive, but also an entirely preventable situation.  What about a local cafe, bookstore, school campus or neighborhood library instead?

Здравей! Greetings in Bulgarian. What fun it has been over the past several days to decipher the Cyrillic alphabet.

Bulgaria was even better than I’d hoped for or expected to find. In many ways the country is at the crossroads — between east and west in terms of geography (evidenced by the scores of trucks en route from Istanbul to Bucharest, Berlin and elsewhere), culture and politics, yet in others overshadowed by those very same elements rooted in its neighbors. For example, it hasn’t had the notoriety of Romania thanks to its lack of an outright dictator, it avoided the dire effects of war in the Balkans despite the fact that they occurred on its doorstep, and once again current international interests lie just nearby in countries surrounding the Black Sea (with Bulgaria’s Black Sea coastline fabled for its beauty and now potentially in severe danger due to environmental abuse, overzealous property developers, holiday-makers and corruption). Even given all the problems and obstacles that still face it — not least EU integration, which is slated to occur over the next several years although while I was there some €2 billion in structural funds for the country were withdrawn due to ongoing corruption concerns — the country appears poised to move forward, with a charming citizenry, beautiful scenery and at least a few pockets of traditional architecture and culture “off the beaten path” that made our visit entirely worthwhile.

After the car-rental-blessing-in-disguise episode in Bucharest and several missed turns (despite three maps in hand, we could not seem to avoid passing and re-passing the same smokestacks multiple times over), we got out of the capital and headed south on Route 5 towards the town of Ruse on the Bulgarian border. The border crossing itself was interesting and easy; it only took 10 minutes and 2 smiles to clear customs patrol, though no-person’s land between the two border checks was a maze of fences, dead-ends and roadblocks unlike any other I have ever seen. Kudos to the authorities for making sure no one could slip through territorial cracks.

Just over the Danube, we stopped at Lukoil for gas. Finally saw the Lukoil name as it “should” be spelled (Лукойл) and were duly impressed by the selection of goods in the mini-market — brand new, shiny Western brands, from soda to iced coffee to French butter cookies. It felt slightly bizarre, not least because about 100 meters away were completely shoddy, dilapidated housing blocks that extended along the horizon for as far as the eye could see. Welcome to Bulgaria; at least from a housing perspective, Romania looked posh in comparison (which isn’t saying much).

Driving southward was like walking even further back in time and back into nature. Broad horizons that were a mixture of forested hills, sunflower fields and chalky bluffs. Tiny villages lined with terra-cotta roofed homes, random shops, lazy roadside vegetable stands. The landscape, architecture and overall feel continually reminded of Umbria. I almost expected to find wild boar crossing the highway; no such luck, though there were plenty of painted horse-drawn carts to pass and cows grazing up to the road’s shoulder.

Arriving in Veliko Tarnovo provided the perfect capstone to a magical drive. The place from which 22 successive tsars ruled Bulgaria during medieval times, Veliko Tarnovo (or just Tarnovo — Търново — for short) retains a stunning setting, complete with fortress and traditional architecture, and remains one of Bulgaria’s national treasures. It reminded me of a combination of Luxembourg (the Yantra River snakes through town, with homes and shops clinging to hillsides and river basins alike), Utah (imagine the red rock bluffs, only gray and mottled with trees) and the area around Cesky Krumlov in the Czech Republic. What a wonderful, unexpected surprise greeted us!

We settled in to the funky, perfectly-located Studio Hotel. Everything item of décor is black, white or red, down to the velvet-brocade wallpaper and lava lamps. The rooftop terrace has a 360 degree panorama of the fabled fortress, onion dome of the cathedral and homes spilling over one another. It didn’t take long to surmise that we’d find this area endearing… and so nice to be at least a bit further off the beaten track again, without stray dogs, traffic congestion or non-stop city clamor.

Tarnovo was the base from which we explored northern Bulgaria as a whole. We discovered better food (and wine), better prices, better drivers, and generally better scenery and better opportunities to enjoy nature than we’d found previously — and indeed, than we expected. It was just the change of pace and lifestyle we needed! We explored a few monasteries (Troyan, Dryanovo), traditional villages (Arbanasi, Bozhentsite, Tryavna and its famous woodworking school — complete with wood-carved ceilings, walls and even engraved family portraits!) and the Stara Planina mountain range. And last but not least, we took a not-to-be-missed detour to “my” namesake village of Apriltsi! Not that there was much to do there other than a handstand next to the sign marking the entry to town; mostly it’s just a long, thin stretch of ramshackle homes and buildings that winds its way along the local river and struggles to survive. The most interesting things to be seen there were a dilapidated rusty MIG fighter jet shell — yes, the entire plane — in the middle of someone’s front yard, and the goat-herder traffic jam at sunset. Goats appear to be revered in Apriltsi; they had the right of way and devoured residential trees while homeowners looked on without much care or dismay.

We were lucky enough to visit the Troyan monastery right as evening mass took place; as if it were not enough that the monastery is exquisitely frescoed inside and outside, listening to the chant of priests amidst such beauty might be enough to convert some die-hard atheists. This experience was outdone only perhaps by our visit to Arbanasi the following day. Arbanasi was the summer getaway locale for nobility during the Ottoman empire, and even today it exudes an air of affluence and refuge. Our first fortuitous visit was to the Church of Saints Michael and Gabriel, where we had to wait for the caretaker to finish his lunch before opening the chapel for us. The upside of this was that we were the only ones there, amidst literally thousands of frescoes and gold-lined icons — amazing! Next we headed to the Nativity Church, where we figured we’d find equally good frescoes… but never did we expect to stumble upon a private impromptu concert by 4 male singers who performed traditional liturgical Bulgarian music. In the cool dim serenity of the chapel, surrounded by brilliant paintings and the hum of deep chords, the effect was mesmerizing and the memory unforgettable.

A few lighter-hearted and more mundane moments rounded out our Bulgarian voyage. Not least, getting pulled over by the local police — twice! The first time was for speeding; we didn’t know the speed limit was only 60 km/hour (35 mph) on the highway. We’re still not sure what the reason for the second pullover was, most likely just the suspicion that because the car came from Romania perhaps it was stolen or something. Thankfully both times as soon as the officer realized that he was dealing with foreigners, who would be more hassle than anything else (and didn’t understand his questions anyway), he let us go with a gruff salutation. Even so, my knees felt like Jell-O! Another fond memory was when we filled up with gas outside of Troyan, only to discover that the station did not take credit cards of any kind, and we did not have enough cash to cover the bill (even in Bulgaria, gas is expensive). We were sent on a wild goose chase to find an ATM in close-to-the-middle-of-nowhere; as part of this quest we found ourselves at a Bulgarian wedding (to ask directions) and later at the end of a chain-linked alley with dogs and security guards (where we were mistakenly directed). By the time we returned successfully to the gas station, Petrov — the station attendant — figured he’d been suckered by 2 foreigners for a full tank of gas. When he saw us, his eyes lit up and we all had a good laugh. Like this:

April and Petrov in Troyan

April and Petrov in Troyan

Finally, mention of some favorite foods and drinks to round out our experiences. Although I am a big fan of mamaliga cu brinza (one of Romania’s national dishes, basically polenta-like cornmeal served with melted soft, tangy sheep’s cheese), the most memorable thing I ate in Romania was yogurt. Seriously. But what delicious yogurt it was — especially the watermelon, honeydew melon and rose-petal flavors. Otherwise it was just a lot of cabbage salad, sliced cucumbers, mealy potatoes and overdone meats. Bulgarian cuisine, on the other hand, revealed delights at almost every turn — not only in tastes sampled, but also in the endearing translations (one favorite: “fresh scvized frut juse” — when pronounced in Bulgarian, it sounds entirely correct!). Chilled tarator soup made with tart yogurt, chopped cucumbers, fresh dill and ground walnuts. Shopska salad of pulverized tomatoes, soft feta-like cheese, dill and (no surprise) cucumbers. “Salads” often having a consistency more like ratatouille, with the vegetables quasi-pureed and combined rather than sliced and served raw. Kadaief, which can only be described as a cold, shredded wheat-like pastry soaked in honey and is simply divine when served with a thimble of strong Turkish coffee.

Speaking of coffee, and drinks generally, Bulgaria gets high marks. We had no problem finding good-quality and inexpensive Italian, Turkish and filter coffee, and one specialty is “coffee on sand” which is essentially old-school Turkish coffee that’s served in a copper pot heated by running it across warm sand. As for wine, Bulgaria is home to several grape-growing regions and good wines. A few varietals that were new to me include Mavrud and Melnik (which produce reds similar to cabernet) and Rikat (which produces a dry white). And then of course there is rakia, the liquor of national pride that can be made out of grapes, prunes or (my favorite) apricot.

On that note, cheers — to another great trip!

I arrived in Bucharest last weekend and spent the week there. The last time I’d been in Romania was 11 years ago, when I traveled for several weeks and saw the country top-to-bottom, from painted monasteries in the northern reaches of Bukovina to castles in Transylvania to dodging stray dogs in Bucharest. So much has changed that in many ways Romania seems like an entirely new country. Yet at the same time, though the revolution and downfall of Ceaucescu occurred almost 20 years ago now, many things seem eerily the same…

We flew down on TAROM airlines (Transport Authority of ROMania). The plane was pretty dilapidated, but we were served a meal that – though nothing spectacular – was far superior to what we would have received on a domestic US flight.

Approaching Bucharest was similar to flying into Tuscany; rolling green hills, lots of greenery, tiny roads weaving their course every which way with no clear sense of direction (at least from above). Customs official was gruff but competent. We retrieved our bags, hopped in a car with a driver named George, and began our 20 km journey into town. Given all the growth in recent years, the trip normally takes 2 hours… en route we passed ginormous Ikea and Carrefour complexes before reaching tree-lined Sol Kiseloff (which reminded me much of promenades in Provence, complete with wide, dedicated bike lanes) and the historic quarter around Calea Victoria. The same plazas and huge communist buildings were still there and apparently in use, though in pretty rough shape, meanwhile sharing space with fancy new all-glass hotels and shopping boutiques galore.

Arriving at the new Rin Grand Hotel was downright surreal. It claims to be the largest hotel in all of Europe; at 1,436 rooms this may well be true, and it is definitely the largest hotel I have ever stayed in. As much as size however was the oddity of the Rin Grand’s location – in the outskirts of town right next to where the city’s open-air used car exchange takes place every weekend. The area is as large as a neighborhood, with scrappy (and probably often stolen and on the black market) cars lining every sidewalk, parking lot and square centimeter of free space available. Just clearing one intersection to go downtown by taxi took upwards of 20 minutes. And for the final touch of surreality, at the same time as accommodating the IDLO course the Rin Grand was also hosting both the East European Junior Men’s Handball Tournament and the European Deaf Tennis Tournament. So we were constantly surrounded by super-fit people speaking sign language and groups of huge 20-something-year-old guys laying claim to public spaces and devouring more food than one would think humanly possible at mealtimes. My favorite memory of the handballers was getting off the elevator and having to pass under 15+ sets of armpits just to reach the lobby.

As usual the IDLO course went well, and I learned a great deal about the differences between “micro” finance and small-and-medium-enterprise (SME) finance and rural finance initiatives in the region generally. As for Romania it seems that while some things are working, many others are not – at least not yet – and that a more complete and successful transition to capitalism and a service-oriented economy will still take some time. A few of my most memorable (and frustrating) experiences of this:

  • The hotel could provide room bookings only on a per-day basis. For example, I could get Sunday’s schedule only on Sunday. The idea that I might want to know Monday’s schedule a day in advance was incomprehensible, so I had to check in with reception the same day at 8am to know what was taking place an hour later.
  • We arrived at the main Piata Unirii (Unity Square) smack in the middle of town. Hungry, we looked around for a café to get a simple bit to eat. After several minutes of searching we found a café with tables outside, asked for the menu and sat down to peruse it. After several more minutes – in which it was clear what we were doing and ready to eat – a young woman came to ask us what we’d like. We made our request for a salad and traditional meat dish to split, only to be told that the kitchen was closed and no food was available. Okay, I get that restaurants are not open 24 hours a day, but why were we given menus to begin with — or at least informed that they were useless — when we arrived?
  • Another’ frustrating food-inspired experience occurred when several members of the IDLO group went out for a late supper one evening. We arrived at a delightful Italo-Romanian trattoria next to the Athenaeum, chock-a-block with signed Italian soccer shirts on the walls, and sat down to enjoy a good meal and each other’s company together. The four of us who ordered pizzas got our food about 20 minutes later. However, the six others who ordered anything else – salads, pasta, meat – had to wait another 1 hour and 20 minutes to be fed. There was no apology, no explanation other than that the kitchen was busy (though we learned later there had been a small flood there), no offer of bread or anything else to stave off our hunger or mitigate the effects of the carafes of wine drunk, and an absolute expectation that we would not only pay for the full meals but also give a tip! Those of us in the group from the US and western Europe were appalled and angry; those from eastern Europe just sort of shrugged their shoulders and said, “well, what else do you expect?” Indeed, there remains much to be learned about customer service around the world…

There was relatively little time outside of the course to explore much of Bucharest other than the used auto lot next door and a few parks (Cismigiu Park was my favorite – complete with paddleboats and a section with free wi-fi!). The Museum of the Romanian Peasant was as endearing as I’d been told, complete with hand-written descriptions and things my grandmother would love.

One afternoon I was able to go on a tour of the Presidential Palace (aka Palace of the People, a rather inappropriate and unfair reference to make), perhaps the most poignant relic of Ceaucescu’s megalomaniacal rule. This monstrosity required 700 architects and 20,000 laborers to work 24 hours per day for 5 years (from 1984 – 1989) and still remained incomplete at the time of Ceaucescu’s fall. It has 3,100 rooms and is the second largest building in the world in terms of surface area, just after the Pentagon; its volume is greater than the largest pyramid at Giza. We were told stories about how the palace once used up Bucharest’s entire power supply in 4 hours, while the rest of the population was in the dark, and how Ceaucescu required the marble stairs to be demolished and rebuilt when he felt that they did not adequately match his personal gait. This, along actions like exporting food (“to show Romania’s success and standing in the world”) while domestic rationing was in effect and much of the population was living in poverty, for over 35 years – and it is not difficult to understand why the reaction against him and his corrupt regime was so strong. Even today people speak of him in the worst of ways, or are simply silent when words are not sufficient to express their feelings.

And yes, of course I got a handstand shot in front of the Palace. The security guards thought I was a bit wacky, which actually made me like doing it even more.

Although we enjoyed Bucharest for all that it revealed itself to be – fast-changing, quirky, with beautiful decaying Art Nouveau architecture and taxi drivers that almost invariably overcharge – we were also eager to have a mini-getaway to (what we hoped would be) the quieter, mellower, greener reaches of northern Bulgaria. Our plan was to take the once-daily public bus to Ruse, just over the Bulgarian border, and connect onwards to the fabled town of Veliko Tarnovo. We had confirmed our travel plans and bus schedule with a travel agent in Bucharest and showed up at the designated bus stop 15 minutes in advance. We waited, and waited and waited… and got a bad feeling that we’d missed our ride. We contacted the agent again, only to be told that the bus company “was not very helpful” and that the bus had passed by 10 minutes before. Um, we begged to differ… But it was pointless to disagree at that point. We started exploring alternative options. Private car and driver to the border for 80 euros? Hitchhike? Ditch the whole Bulgarian idea and go somewhere else within Romania by train instead? We hopped in a cab and went over to the travel agency to get more information. As we’re sitting there, exasperated and hoping-to-goodness that we wouldn’t end up back at the Rin Grand, we were asked “How about renting a car?”

Never having given much thought to the idea of car rental in eastern Europe – not least because it’s among the highest-risk regions in the world for car theft – our eyes now perked up. But how were we ever going to find a car in Bucharest on short notice, other than going back to the auto lot and buying a dilapidated one from the black market? (Although that could be fun too…) As luck would have it, there was an Avis office literally around the corner, and – even luckier – they had a nearly-new Opel Corsa that could be ours in about 10 minutes and for a surprisingly good price. We could hardly believe it! So that day turned into one full of fun surprises, and our exit from the country turned into a true adventure (note to self: never trust Romanian street maps). More on the crossing into Bulgaria, Veliko Tarnovo’s charms and hidden monasteries in my next post…

I returned to London late last week for the first time since I left and moved back to San Francisco in 2006. What a fun trip down memory lane: Marylebone, the Wallace Collection, the British Museum (saw the famed crystal skull of Indy Jones lore — quite disappointing in fact), park after park after park… I love that city, at least for visiting, even if I’m not constituted to live there long-term.

I had some business meetings too, and went to the stunning new Allen & Overy offices. Beautiful! They have masterfully built an all-glass structure immediately on top of and around the old market at Bishops Square, and turned the entire surrounding area into a delightful pedestrian area. In my opinion this is about as good as it gets, at least for a law firm (in which one is likely to spend long hours, you might as well have amenities like A&O does).

Took a true deja-vu excursion to the Tate Modern rooftop cafe for the view and late-Friday-night drinks, followed by the best tapas I have ever had under a railway bridge near Waterloo. Seriously; it’s called Mar I Terra. All of this occurred after I’d taken care of a key priority: a handstand in front of Buckingham Palace.

Buckingham Palace Handstand

Buckingham Palace Handstand

I recently became an adviser to Swayam, a new socially-minded investment platform that is slated to enable individuals to invest in the higher education — and hence futures — of entrepreneurs who would otherwise not be able to afford their degrees (or would otherwise be burdened with heavy loan obligations).  I originally met the Swayam team while serving as a judge at the BASES social enterprise competition at Stanford earlier this spring, where Swayam was one of the top finalist teams.  I was attracted to the Swayam proposal for several reasons, not least the synergies and similarities it has to certain models of microfinance investment.

The Swayam initiative is a work in progress, and a pilot program with graduate students from Stanford is underway.  The Swayam team is actively seeking more Swayam Fellows (students) and Swayam Angels (investors).  More information is available on the Swayam site, and definitely check out the Swayam blog as well.  I believe the potential impact, benefits and efficiencies of Swayam could be huge — in the United States and around the world, and for students, professionals, investors and universities alike…

Next month sees a couple of interesting events in the microfinance space. First there is the inaugural microfinance investors conference in San Francisco. I’m thrilled to see this finally happening out west given the robust microfinance community that’s been here for some time already. More on the conference, agenda etc. can be found here.

The next day I’ll be Europe-bound for the upcoming IDLO law-and-microfinance course in Bucharest, Romania. It’s slated to focus on MFIs in Eastern Europe and CIS. I’m looking forward not only to teaching and learning more about microfinance in this region, but also apparently the hotel venue appears to be as large as a small city (indeed, it’s right next to Ceaucescu’s Presidential Palace and I wonder if it gives the latter a run for its money!). Surely there will be ample opportunity for more travel stories and photos as well… all in due course.

To the extent that new legal structures can be exciting — which is a long shot for many, I admit — there is one on the horizon.  The L3C (Low-Profit Limited Liability Company) officially came into being in Vermont last month.  It has national applicability (thanks to the fact that it is essentially a modified version of the LLC which exists in all 50 states) and provides enormous potential to facilitate socially beneficial and “double bottom line” investing by commercial investors and philanthropic entities alike.  Among other advantages, it flips the traditional investment model on its head by enabling (1) foundations and donor advised funds the ability to meet Program Related Investment (PRI) requirements by taking an equity position in the L3C (high-risk + low-return), with the possibility of receiving financial returns in the future, and (2) market investors increased opportunities to enter the social investment arena due to such equity cushion (low-risk + high-return).

The L3C is a fascinating model and appears to be broadly workable.  The more I learn about it, the more I like it…  Perhaps a longer post about it in the future.  For now the best L3C summary can be found here.

South India Photos

Photos from my South India trip are now viewable online. I’m not done uploading all of them yet, but hopefully that will occur in the very near future.

Also, if you want to see only the IDLO Chennai photos, go here. Course participants are encouraged to upload their own shots but that may take a while.

Enjoy!

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