Founder of popular online shopping website, eBay, Pierre Omidyar is set to dole out a daily income to some 26,000 poor people living in 200 rural villages in Kenya for a period of 12 years.

Omidyar according to the Business Insider website, will give the money to the charity GiveDirectly, which is part of the Omidyar Network. This is an experiment to see if giving people free money can help alleviate poverty, improve the economic standing of poor people and generally help them lead a better life.

The billionaire said: ‘Even though we know that cash transfers in developing countries help reduce poverty and improve outcomes for families, these have not been tested on a long-term basis or with a universal beneficiary pool.’