wuliheron wrote:Unfortunately your experience isn't new and it is always best to approach extreme situations like poverty or extremely different cultures with caution. However, your story reminds me of the origin of Grameen Bank. A few college students in Bangladesh went into the slums and spent the day asking the locals what kind of help they could use. At one point two groups of people came to them and, because they were outsiders, asked them to mediate a dispute over money.
They spend hours arguing over the money and finally the college students asked how much money was involved. When the crowd told them twenty dollars the students practically threw the money at them just to get rid of them. On another day the people returned and paid them their money back, only to have another group ask them to mediate a dispute over money. That twenty dollars is still in circulation to this day and has grown into Grameen Bank which is worth some 1.5 billion dollars.
Its a nonprofit bank that people work for instead of paying interest on loans and their goal is to eliminate that kind of destitute poverty worldwide within fifty years. For such people a loan of a few hundred dollars is enough to start a business that can support them for life. Almost all their loans are to women who tend to be much better with spending the money then men and they say after all these years they have never had a single person default on a loan. Some of the people receiving loans from them have even become millionaires and made large donations back to the bank.
CanadysPeak wrote:Grameen's skirts are not that clean. They have fairly serious delinquency rates (up to 19 %), but they use somewhat disingenous labelling to drop the default rate below 10 %. They have also been known to use some muscle to collect.
http://blogs.cgdev.org/open_book/2010/0 ... t-snag.php
Users browsing this forum: No registered users and 2 guests