Dr. Muhammud Yunus is a remarkable man. He comes from the poverty stricken country of Bangladesh. In his 30's he was a professor of Economics, but he didn't feel that his work was rewarding enough. So he founded the Grameen Foundation and Grameen Bank to help alleviate the pain of extreme poverty through microloans. Here are a few videos that will help you understand the inspiration and goals of Dr. Muhammud Yunus.
Overview of what Dr. Yunus Believes-
History of Bangladesh and Dr. Muhammud Yunus-
Q&A with Dr. Muhammad Yunus-
5.19.2008
The Myth of Microloans; A Nobel Peace Prize for Neoliberalism?
On the website CounterPunch there is an article titled "The Myth of Microloans; A Nobel Peace Prize for Neoliberalism?" In this article Alexander Cockburn, a radical political journalist, who criticizes microloans as having outlived their usefulness. Cockburn says that while it was a radical idea in the '70's when it was first introduced it has failed to live up to its promise of changing how first and third world countries relate. Furthermore he compares them to a micro-band aid on a macro-wound.
To prove his case he quotes economist Robert Pollin who says, "Bangladesh and Bolivia are two countries widely recognized for having the most successful micro credit programs in the world. They also remain two of the poorest countries in the world."
He also quotes P. Sainith, author of "Everybody Loves a Good Drought" who says that microlending can be useful but it shouldn't be romanticized or made out to be a transformational activity. Because transformationally speaking, its relatively useless.
Furthermore, Cockburn argues the Nobel Peace Prize is a joke, because at one point Henry Kissinger, father of the atomic bomb, won it. He continues to argue that Mohammed Yunus should not have won the award because the idea that microloans can help is just as ridiculous as linking "Kissinger" with "Peace".
Below is the link to an article ;
http://www.counterpunch.org/cockburn10202006.html
To prove his case he quotes economist Robert Pollin who says, "Bangladesh and Bolivia are two countries widely recognized for having the most successful micro credit programs in the world. They also remain two of the poorest countries in the world."
He also quotes P. Sainith, author of "Everybody Loves a Good Drought" who says that microlending can be useful but it shouldn't be romanticized or made out to be a transformational activity. Because transformationally speaking, its relatively useless.
Furthermore, Cockburn argues the Nobel Peace Prize is a joke, because at one point Henry Kissinger, father of the atomic bomb, won it. He continues to argue that Mohammed Yunus should not have won the award because the idea that microloans can help is just as ridiculous as linking "Kissinger" with "Peace".
Below is the link to an article ;
http://www.counterpunch.org/cockburn10202006.html
Grameen Foundation- In Depth
Grameen Foundation- Empowering People. Changing Lives. Innovating for the World's Poor.
History-
The Grameen Foundation is a separate foundation from the Grameen Bank. However, the foundation works closely with the bank, and was founded to help speed the impact that microloans can have. It is a baby organization of the bank, and has its roots in the Bank. The bank was founded in 1976 Professor Muhammad Yunus (the founder of Kiva) with $27 from his pocket. He still serves on the board of directors, but the foundation/bank are both entirely owned by the clients.
What Grameen Foundation Does-
The Grameen Foundation is unlike the bank in that it does not actually handle the money. The Grameen Foundation supports microloan institutes (MFI's) in the form of funding, technical assistance, training and new technology. The Foundation helps harness new technology to make the microfinance industry more efficient. They connect MFI's with the capitol market, bringing in new financial resources to the institutes. A major role of the foundation is publicity, they spread the word about the huge amounts of good that can be done through microloans. And finally they promote "social business".
What is Social Business-
In his book, A World Without Poverty, Muhammad Yunus presents two business models which he labels social businesses. A social business is social-objective driven. The first model is created through building or supporting sustainable "non-loss" business enterprises where all of the profits are ploughed back into the company rather than being distributed to shareholders. The second model is profit driven. Instead of the money going back into the business, the business is owned and operated by the poor, who then reap 100% of the benefits.
Where Does Grameen Help-
The Grameen Foundation is making an impact in the following countries-
Bangladesh, Pakistan, India, China, East Timor, Indonesia, The Philippines, Mexico, Honduras, Haiti, El Salvador, Dominican Republic, Bolivia, Egypt, Lebanon, Morocco, Saudi Arabia, Tunisia, Yemen, Cameroon, Ethiopia, Ghana, Nigeria, Rwanda, and Uganda.
For More Information on The Grameen Foundation visit the website below;
http://www.grameenfoundation.org/who_we_are/
History-
The Grameen Foundation is a separate foundation from the Grameen Bank. However, the foundation works closely with the bank, and was founded to help speed the impact that microloans can have. It is a baby organization of the bank, and has its roots in the Bank. The bank was founded in 1976 Professor Muhammad Yunus (the founder of Kiva) with $27 from his pocket. He still serves on the board of directors, but the foundation/bank are both entirely owned by the clients.
What Grameen Foundation Does-
The Grameen Foundation is unlike the bank in that it does not actually handle the money. The Grameen Foundation supports microloan institutes (MFI's) in the form of funding, technical assistance, training and new technology. The Foundation helps harness new technology to make the microfinance industry more efficient. They connect MFI's with the capitol market, bringing in new financial resources to the institutes. A major role of the foundation is publicity, they spread the word about the huge amounts of good that can be done through microloans. And finally they promote "social business".
What is Social Business-
In his book, A World Without Poverty, Muhammad Yunus presents two business models which he labels social businesses. A social business is social-objective driven. The first model is created through building or supporting sustainable "non-loss" business enterprises where all of the profits are ploughed back into the company rather than being distributed to shareholders. The second model is profit driven. Instead of the money going back into the business, the business is owned and operated by the poor, who then reap 100% of the benefits.
Where Does Grameen Help-
The Grameen Foundation is making an impact in the following countries-
Bangladesh, Pakistan, India, China, East Timor, Indonesia, The Philippines, Mexico, Honduras, Haiti, El Salvador, Dominican Republic, Bolivia, Egypt, Lebanon, Morocco, Saudi Arabia, Tunisia, Yemen, Cameroon, Ethiopia, Ghana, Nigeria, Rwanda, and Uganda.
For More Information on The Grameen Foundation visit the website below;
http://www.grameenfoundation.org/who_we_are/
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