Orighty, another day, another quote… Take 2.
I have been nominated by the lovely Thomas M. Watt to participate in the three quotes in three days challenge. Thank you for considering me, Thomas.
RULES: (close enough anyway)
- Select one quote per day for the next three days and write a little something on it
- Thank the person who nominated you
- Then nominate three other bloggers for the challenge
Everyone deserves a chance to do something with her or his life, regardless of socioeconomic status. Muhammad Yunus is a Nobel peace laureate, economist and social activist who is dedicated to combating poverty in his native country of Bangladesh as well as worldwide. Like many developing countries, the contrast between the rich and poor in Bangladesh is staggering. The rich have unrestricted wealth and the poor, are oppressively poor. Yunus translated economic principles into practice by founding the Grameen bank, a bank solely dedicated to providing loans and other financial services for the poor.
Through the concepts of microfinance and microcredit, small group loans, collateral free, are given out to those too poor to qualify for traditional loans. Yunus’s vision is that all individuals have inner desires to fulfil their potentials or the need for self actualization. They just needed the opportunities and support, a spark to get started. He thought this process of empowerment, of helping people becoming self sufficient was a more effective way to eradicate poverty rather than just the provision of short term charitable donations. Yunus and the Grameen bank have a particular emphasis on lending loans to impoverished women, a marginalised group within an already vulnerable community. About 95% of the bank’s loans are given to women. Through their research they found that lending to women borrowers generated better effects as women were more likely to share financial incentives with the rest of the family and improve their overall situation.
Muhammad Yunus and Grameen bank are admirable for their continued efforts in helping, and promoting the marginalised and ordinary members of society by motivating and providing them the incentives to become extraordinary.