Word: microcredit
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...think it is ethical to charge the poor interest and make a profit out of it? -Hasan Iqbal, Sundsvall, Sweden In Bangladesh, Grameen Bank charges the lowest rate among all microcredit programs, and yes, we make a profit. But Grameen Bank is owned by the borrowers, so when we make a profit it goes back to the borrowers as dividends...
...Microfinancing empowers Bangladeshi women. Is it driving cultural change? Lucas Torrin, Ottawa The most dramatic thing that has happened in Bangladesh in the last 25 years is the total change in the status of women. Microcredit has played a very important role in that, particularly with poor women...
...grow poppy. The opium traffickers send in merchants in the fall to prepurchase the crops, so it gives the farmers a much needed cash injection that they use to get their families through the winter. We've done nothing in the international community to provide that kind of microcredit program for licit crops. To my mind, the important thing is to really take the focus off of the farmers and to put it on the traffickers...
...approval rating. This suggests that despite the recession, most Brazilians still feel they're winning. "It was very difficult to change social class in Brazil 10 years ago, or even four years ago," says Luis Minori of the market-research firm Ipsos. "Now people have access to microcredit and computers and other means of social mobility." In that sense Brazil has outperformed even China and India, Neri claims, because "poverty is falling [in those places] but inequality...
Muhammad Yunus Nobel Peace Prize-winning economics professor whose pioneering Grameen Bank fights poverty with microcredit...