Grameen Bank Takeover in Bangladesh: Bad Economics.

I wrote earlier about the great work of the Grameen Bank and the Grameen Foundation, groups I have supported for many years.  Founder M. Yunus invented the concept of “microloans”, a tactic that has been helping the poor for many years.   In 2006 Yunus received the Nobel Peace Prize for this pioneering work.

Unfortunately the Bangladesh Government is now in a power play to take over the bank, jeopardizing the welfare of the millions of women and their families who benefit from the bank.

I’d encourage anybody interested in the well being of poor folks to write the government of Bangladesh here:  , urging them to reconsider this bad takeover move.

Here’s the letter I wrote them in June , feel free to copy from it.    I think more important, however, is to write your Congressperson and your Senators to let them know this issue *matters to you*, and that the USA can stand against unwise bureaucratic power plays that will reduce the effectiveness of the Grameen Bank – perhaps even destroy it.

Here are contacts for your Congressperson:

Your Senator:

You don’t need to be Shakespeare here – just let them know you are concerned about the Grameen Bank Takeover and you’d like to know what they are doing about this.

At my son Ben’s commencement address the speaker did a great job of talking about the difference between “first world problems” and “developing world problems”.    Here, we fret over standing in line or the color of our clothes or the price of a fancy restaurant.    There, people worry mostly about feeding their kids, getting them schooling, or surviving   diseases that are virtually unknown in the USA.    Sure we have real problems too.    Health issues, abuse, education, and more.   But on average our challenges are far less than in most of the rest of the world and we can and should support efforts like Grameen that are building viable micro-economies based on free enterprise and entrepreneurial spirit.  These are super low cost, high ROI approaches to poverty and they deserve our support and our political klout.

… Hey, thanks!