OTHER INITIATIVES
The number of innovative self-help initiatives to improve the situation for the world’s poor are growing. Our strong belief in help to self-help is getting more and more supporters. Below are examples of other impressive actors in this area:
Grameen Bank
Grameen Bank was born in the village of Jobra, Bangladesh, in 1976. In 1983, it was transformed into a formal bank under a special law passed for its creation. It is owned by the poor borrowers of the bank, who mainly are women. It works exclusively for them. Grameen Bank does not require any collateral against its micro-loans. Since the bank does not wish to take any borrower to the court of law in case of non-repayment, it does not require the borrowers to sign any legal instrument. In 1995, Grameen Bank decided not to receive any more donor funds. Since then, it has not requested any fresh funds from donors. Grameen Bank was together with Professor Muhammad Yunus awarded with Nobel Peace Prize 2006.
Source: http://www.grameen-info.org/index.php?option=com_content&task=view&id=26&Itemid=175
BRAC
Bangladesh has been home to many innovations in tackling poverty. BRAC, a development organisation founded by Fazle Hasan Abed in February 1972, soon after the liberation of Bangladesh, has acted as both the initiator and catalyst for many such innovations and change. BRAC’s initial focus was on assisting the refugees returning from India to their newly independent country. In 1973, BRAC broadened their focus to long-term sustainable poverty reduction. Over the course of their evolution, BRAC has established itself as a pioneer in recognising and tackling the different dimensions of poverty. BRAC’s holistic approach to poverty alleviation and empowerment of the poor encompasses a range of core programmes in economic and social development, health, education, and human rights and legal services.
Source: http://www.brac.net/index.php?nid=2
SKS Microfinance
Launched in 1998, SKS Microfinance is one of the fastest growing microfinance organisations in the world. Borrowers take loans for a range of income-generating activities, including livestock, agriculture, trade (such as vegetable vending), production (from basket weaving to pottery) and new age businesses (beauty parlour to photography). SKS also offers interest-free loans for emergencies as well as life insurance to its members. Its NGO wing SKS Foundation runs the Ultra Poor Programme.
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