Page 106 - OKHCoffieeTableBook_Neat

Dr. Mohammed Yunus initiated the talk, “A World • Many household women started giving
of Three Zeros”, referring to aspects of capitalist shopping lists to beggars to save time and
theory, where youngsters were being prepared to effort. This resulted in increased business for
be job seekers. He opined that rather, job creation the beggar entrepreneurs.
should be the target by influencing and creating
entrepreneurs. The destiny of human beings is to • Subsequently, around 2,00,000 beggars joined
be creators, problem solvers and entrepreneurs the program and were able to overcome their
rather than job seekers. financial and social constraints to become
small entrepreneurs.
In this context, he shared the experience of his brain
child project, Grameen Bank, Bangladesh, where Thus, one can infer that poverty is created by the
the poorest of poor, in general, the beggars and systems of society. Poverty is not created by poor
especially generational beggars were targeted for people. The motto of Grameen Bank is “More
financial inclusion. Under the Beggar Programme, poor you are, the more attractive you are”. This is
they were given loans without any collateral and opposite to traditional banks which are attracted
cumbersome paper work along with all the support and inclined to the rich. The objective of Grameen
required to start their own business, which banks Bank is to reach the poorest of the poor. Women are
usually never do. They were provided around $10- the focus of the bank as the normal banking system
$15 dollars initially with no interest or time limit. bypasses them. Capacity building of women is
They were to sell small household products such an important and integral part of the success of
as fruits, toiletries, snacks etc., which they could Grameen Bank. Working with women has yielded
handle or carry while begging. After 1 year, the benefits not only for the woman herself but also
impact of the beggar program was mind boggling: to the family. No collateral or documentation is
required by poor women while borrowing and the
• The beggars got respect and dignity. repayment has no time limits.

• About 26% left begging. Credit is like economic oxygen and the sooner
they receive it, the sooner they become intelligent
• Many learnt market segregation for making and smart entrepreneurs. Now, in total, Grameen
business. They quickly learnt where to beg bank has 9 million borrowers and all are illiterate.
from and from which household they could Today, in USA there are 20 branches of Grameen
expect to do business. Bank, lending to the poorest of the poor women,
busting the myth that women are not bankable.