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Bloggers Parliament House of Commons

5.6.04
 
Anyone for ending poverty and treating credit as a human right?
We CAN End Global Poverty by 2015!


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Dr. Muhammad Yunus of the Grameen Bank
Transforming the World, One Life at a Time

Grameen Bank founder and managing director Dr. Muhammad Yunus appeared on the Charlie Rose Show on June 4, 2004.

In 1976, as a young economics professor, Dr. Yunus discovered that poor women in his native Bangladesh could break through poverty when they received tiny loans to start or expand tiny businesses. He launched this concept — micro-finance — with the money in his pocket and started a development revolution. The bank he founded—Grameen Bank—today serves 3.4 million clients and has lent more than $4.3 billion in loans averaging just $200.


In 1997, Dr. Yunus founded Grameen Foundation USA, a U.S.-based non-profit organization dedicated to replicating the success of the Grameen Bank around the world. Grameen Foundation USA combines micro-finance, technology, and innovation to empower the world’s poorest people to lift themselves out of poverty with dignity. In just seven years, Grameen Foundation USA’s programs and initiatives have transformed the lives of approximately 2.5 million people living in poverty.


[Dr. Yunus has proven that his methods can work anywhere in the world. He believes that the right to credit is a basic human right, possibly as important as--if not more important than--the rights to food, shelter, clothing and work. In our current economy, only people who already have a lot of money can obtain money on credit. He has shown that very small loans can help people in poverty lift themselves up from a situation previously believed to be chronic. Visit the Charlie Rose site and listen to the interview. I know you'll find it as fascinating and exciting as I did. And by all means, pick up Dr. Yunus' book, Banker to the Poor: Micro-lending and the Battle Against World Poverty by Muhammad Yunus (PublicAffairs, 2003). -v]


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