Word: microcredit
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Dates: during 2000-2009
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Never has there been a more timely recognition of the quiet revolution started by microcredit pioneer Muhammad Yunus than the awarding of the 2006 Nobel Peace Prize [Oct. 23]. Yunus' achievement is a shining example of how social and religious prejudices can be sensitively overcome within a community and without the confrontation, sensationalism and politicization that seem to have become the hallmarks for handling issues today. For doing this and for subverting long-held economic principles, Yunus deserved both the Peace and the Economics Prizes...
...touched and very happy to read about Yunus' microcredit story. In a time of such bleakness and pessimism, the possibility that by 2030 the only trace of poverty could be in a museum was absolutely wonderful news. Imagining a very near future in which the word poverty requires the use of the past tense ought to be enough to make everyone optimistic...
Yunus successfully demonstrated how microcredit can be a means of alleviating poverty and empowering women. An impossible idea turned out to be a practical weapon in the fight against the extreme poverty of those in Southeast Asia and other Third World areas. Yunus' goal of reducing poverty by half by 2015, however, will require the sustained commitment and cooperation of development partners and the unequivocal support of local governments...
...years of microfinance has provided reassuring success stories—from Yunus’ own in Bangladesh to the 3,200 microcredit institutions that had sprouted up around the world by the end of 2004. It is a strategy that American corporations are slowly catching onto. Many see it as a way for companies to signify their commitment to social responsibility, highlighting a humane effort to change their ruthless reputations. And, it may be successful at helping to do just that...
Absolutely--58% of the poor who borrowed from Grameen are now out of poverty. There are over 100 million people now involved with microcredit schemes. At the rate we're heading, we'll halve total poverty by 2015. We'll create a poverty museum...