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NEWS
August 16, 1995
For the world's poorest people, scarcity is a way of life. But it is the scarcity of one staple of economic prosperity -- credit -- that helps keep them poor.Likewise, it is their resourcefulness and desire to escape poverty that drives the vast majority of poor people to make the most of credit when they can get it on fair terms. The entrance of the World Bank into the "micro-finance" market as sponsor of a newly formed Consultative Group to Assist the Poorest (CGAP) brings new hope to millions of poor people around the world.
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NEWS
November 23, 2006
A hand up for poor is the path to peace In his column about microcredit, Asif Dowla notes that 15 million to 20 million people in impoverished Bangladesh have pulled themselves out of poverty because of their hard work and small loans from Muhammad Yunus' Grameen Bank ("The poor and their bank: peace through prosperity," Opinion * Commentary, Nov. 14). Worldwide, an estimated 300 million people have used microcredit to raise their families out of poverty. Yet the battle is not won. More than 1 billion people live on less than $1 a day. We Americans can ask our government to help.
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NEWS
June 12, 1994
For more than three decades, the United States has been sending small armies of people to poor countries to aid economic development efforts. Now, when Americans have plenty of reason to be concerned about their own economic well-being, many voters are beginning to look askance at the money spent on foreign aid. The partnership inaugurated this past week between Baltimore and the U.S. Agency for International Development is aimed at finding ways to apply...
NEWS
By Asif Dowla | November 14, 2006
Imagine your life without a bank. You are not able to deposit money, cash your checks, buy a house and pay the mortgage, or pay your children's tuition. These are the types of challenges that the poor of the world face every day. An economics professor in Bangladesh found this state of affairs unacceptable. In his heart, he knew the poor were bankable. The challenge was to convince others. When conventional banks were unconvinced, he realized he needed a bank of his own that would give microcredit to the poor and protect their savings.
NEWS
By Asif Dowla | November 14, 2006
Imagine your life without a bank. You are not able to deposit money, cash your checks, buy a house and pay the mortgage, or pay your children's tuition. These are the types of challenges that the poor of the world face every day. An economics professor in Bangladesh found this state of affairs unacceptable. In his heart, he knew the poor were bankable. The challenge was to convince others. When conventional banks were unconvinced, he realized he needed a bank of his own that would give microcredit to the poor and protect their savings.
NEWS
By Douglas Birch and Douglas Birch,Sun reporter | October 14, 2006
He was just a humble bookkeeper at a tiny bank in one of the world's poorest countries. So it never occurred to Asif Dowla that he was part of something that would someday change the world. When Dowla worked for five months at what would become the Grameen Bank of Bangladesh back in the late 1970s, it had just two other employees and served a few tiny villages. But the bank's founder had an idea. Dowla was recruited for the job by his doctoral thesis adviser at Bangladesh's Chittagong University, Professor Muhammad Yunus, who won the Nobel Peace Prize yesterday.
NEWS
By LOS ANGELES TIMES | January 31, 1998
For Muhammad Yunus, it all began with a challenge in 1976, when he was an economics professor at Chittagong University in Bangladesh."I had no intention of creating a bank," says Yunus, founder and now managing director of Grameen Bank, which, to date, has lent a total of $2 billion to 2.3 million people, 94 percent of whom are poor women.He started with $27 of his own money and lent small amounts to the poorest Bangladeshi women, who used the money to raise milk cows or buy supplies for their small home-crafts businesses.
NEWS
By JONATHAN POWER | August 9, 1991
ROME-- Is there something special in the air of those countries that sit at the foot of the Himalayas that accounts for their amazing aptitude for innovative forms of banking? The Pakistanis, who built up the Bank of Credit and Commerce International from zero to world reach in a decade, are only one of a class on the Indian sub-continent.Far from the high slopes of BCCI's corruption of its professed ideals of being a bank at the service of the poor of the Third World, I prefer to remember a former chairman of Pakistan's National Bank, Mohammed Nishtar, who spent the last 10 years of his life creating what he disarmingly called the ''motorbike bank.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Columnist | October 18, 2006
Like thousands of Bangladeshis served by the Nobel Prize-winning Grameen Bank, Baltimorean Cathy Kratovil is reaping the gains of "micro-enterprise." Backed by Women Entrepreneurs of Baltimore, a local micro-enterprise promoter, the 43-year-old mother and grandmother bought a Macintosh computer, started a graphic-design business in her Overlea home and quit a part-time job in May to work for herself. Getting customers is "a hard nut to crack," she says, but she has signed several, and "it's starting to pick up really well for me."
NEWS
November 23, 2006
A hand up for poor is the path to peace In his column about microcredit, Asif Dowla notes that 15 million to 20 million people in impoverished Bangladesh have pulled themselves out of poverty because of their hard work and small loans from Muhammad Yunus' Grameen Bank ("The poor and their bank: peace through prosperity," Opinion * Commentary, Nov. 14). Worldwide, an estimated 300 million people have used microcredit to raise their families out of poverty. Yet the battle is not won. More than 1 billion people live on less than $1 a day. We Americans can ask our government to help.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Columnist | October 18, 2006
Like thousands of Bangladeshis served by the Nobel Prize-winning Grameen Bank, Baltimorean Cathy Kratovil is reaping the gains of "micro-enterprise." Backed by Women Entrepreneurs of Baltimore, a local micro-enterprise promoter, the 43-year-old mother and grandmother bought a Macintosh computer, started a graphic-design business in her Overlea home and quit a part-time job in May to work for herself. Getting customers is "a hard nut to crack," she says, but she has signed several, and "it's starting to pick up really well for me."
NEWS
By Douglas Birch and Douglas Birch,Sun reporter | October 14, 2006
He was just a humble bookkeeper at a tiny bank in one of the world's poorest countries. So it never occurred to Asif Dowla that he was part of something that would someday change the world. When Dowla worked for five months at what would become the Grameen Bank of Bangladesh back in the late 1970s, it had just two other employees and served a few tiny villages. But the bank's founder had an idea. Dowla was recruited for the job by his doctoral thesis adviser at Bangladesh's Chittagong University, Professor Muhammad Yunus, who won the Nobel Peace Prize yesterday.
NEWS
By LOS ANGELES TIMES | January 31, 1998
For Muhammad Yunus, it all began with a challenge in 1976, when he was an economics professor at Chittagong University in Bangladesh."I had no intention of creating a bank," says Yunus, founder and now managing director of Grameen Bank, which, to date, has lent a total of $2 billion to 2.3 million people, 94 percent of whom are poor women.He started with $27 of his own money and lent small amounts to the poorest Bangladeshi women, who used the money to raise milk cows or buy supplies for their small home-crafts businesses.
NEWS
August 16, 1995
For the world's poorest people, scarcity is a way of life. But it is the scarcity of one staple of economic prosperity -- credit -- that helps keep them poor.Likewise, it is their resourcefulness and desire to escape poverty that drives the vast majority of poor people to make the most of credit when they can get it on fair terms. The entrance of the World Bank into the "micro-finance" market as sponsor of a newly formed Consultative Group to Assist the Poorest (CGAP) brings new hope to millions of poor people around the world.
NEWS
June 12, 1994
For more than three decades, the United States has been sending small armies of people to poor countries to aid economic development efforts. Now, when Americans have plenty of reason to be concerned about their own economic well-being, many voters are beginning to look askance at the money spent on foreign aid. The partnership inaugurated this past week between Baltimore and the U.S. Agency for International Development is aimed at finding ways to apply...
NEWS
By JONATHAN POWER | August 9, 1991
ROME-- Is there something special in the air of those countries that sit at the foot of the Himalayas that accounts for their amazing aptitude for innovative forms of banking? The Pakistanis, who built up the Bank of Credit and Commerce International from zero to world reach in a decade, are only one of a class on the Indian sub-continent.Far from the high slopes of BCCI's corruption of its professed ideals of being a bank at the service of the poor of the Third World, I prefer to remember a former chairman of Pakistan's National Bank, Mohammed Nishtar, who spent the last 10 years of his life creating what he disarmingly called the ''motorbike bank.
NEWS
By Tom Hundley and Tom Hundley,Chicago Tribune | October 14, 2006
LONDON -- It would have been more charitable - and certainly a lot easier - just to give the poor woman the money. But instead, Muhammad Yunus lent her $27. "Charity is not the answer to poverty," Yunus wrote this year. "It only helps poverty to continue. It creates dependency and takes away the individual's initiative to break through the wall of poverty." The woman and several of her friends used the small loan to start a furniture-making business and to escape the bonds of poverty in their rural Bangladeshi village.
NEWS
By SARA ENGRAM | September 10, 1995
Forget the spats about ''feminism,'' debates about the meaning of ''gender,'' or the criticisms that the concept of ''family'' gets short shrift in the official U.N. document.What matters about the conference in Beijing is that by addressing ''women's'' issues, the governments of the world are also addressing problems that directly affect the welfare of all their people.Educating girls, providing reproductive health care, finding ways make credit available to poor women -- these problems don't require sophisticated solutions.
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