Posted by: brittanyng | June 10, 2010

Microfinancing, the solution to poverty

“Give a man a fish, he will not go hungry for a day, but teach a man to fish, and he will not go hungry for a lifetime.”  Despite the commonality of the above statement, the Grameen Foundation has really taken this simple truth to heart. 

The Grameen Foundation works to combine the power of microfinance and technology to defeat global poverty.  They target the poorest and those living in harder to reach areas and provide them with microfinancing and technology to help them overcome their own poverty and move themselves to a better life.   Their cutting-edge resources have helped 45 million poor people, mostly women and children, to improve their lives through the following ways:

1. They create economic opportunities for the world’s poorest.  The Foundation provides access to capital needed for the poor to use to develop or expand a small business.

2. They  build large-scale, easy-to-replicate solutions to end the cycle of poverty in developing countries around the world.  With the re-paid loans, they then recycle the funds into new loans, thus perpetuating the program for new clients.

3. They leverage the knowledge and expertise of local partners to create the most effective programs possible.  They support and strengthen local organizations while respecting cultures and traditions.

4.  They lead the industry in measuring impact and delivering results.  Their Progress Out of Poverty IndexTM simply but accurately measures poverty levels of the 23 countries they serve, as well as to determine the clients’ needs, the effectiveness and efficiency of programs, and how quickly people move from poverty to financial self-sufficiency.

Millions have already benefited from this Foundation and others using microfinancing as the path out of poverty.  Can you imagine the good we could do by donating just a dollar to the fund?  A dollar we might waste on a candy bar here in America could very well be part of the fund that pulls a family out of the slums and into a functioning and sustainable lifestyle!

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Responses

  1. I learned about this in one of my classes and it’s such a great idea! It only takes a small amount of money for these people to start up their own business and be independent. They can then pay back the loan and another person can then be helped.

  2. Wow, that Poverty Index is a really interesting resource. I had no idea some of the countries are that poor.

  3. I love organizations like this! It’s such a great way to build up poor communities and get them on their feet.

  4. I love the Grameen Foundation and the concept of Microfinancing. I think one of the hardest things in PH is creating a solution that’s sustainable. Organizations like this are really making a change that can last generations.

  5. This is such a true concept. So many times I have wanted to participate in humanitarian efforts and they just give things to people in need giving them no means to learn and improve. Micorfinancing offers people in need to start working again and providing for themselves rather than expecting help.

  6. Great quote on giving a man a fish vs teaching him to fish.. Seems like a great organization!

  7. Great post! I’ve never heard of this organization, but I love it already, and I’m planning to research a little more about it. Thanks

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