Creating a World Without Poverty Is Possible

Yesterday evening I had the opportunity to attend an event hosted by the Chicago Counsel on Global Affairs. The organization invited Muhammad Yunus, winner of the 2006 Nobel Peace Prize, founder and managing director of Grameen Bank, to speak to us about what prompted him to start Grameen Bank, what his challenges were, and what he has seen happen so far.

What if you could harness the power of the free market to solve the problems of poverty, hunger, and inequality? To some, it sounds impossible. But Nobel Peace Prize winner Muhammad Yunus is doing exactly that. As founder of Grameen Bank, Yunus pioneered microcredit, the innovative banking program that provides poor people—mainly women—with small loans they use to launch businesses and lift their families out of poverty. In the past thirty years, microcredit has spread to every continent and benefited over 100 million families.

Now, Yunus—in partnership with some of the world’s most visionary business leaders—has launched the world’s first purposely designed social businesses. From collaborating with Danone to produce affordable, nutritious yogurt for malnourished children in Bangladesh to building eyecare hospitals that will save thousands of poor people from blindness, he offers a glimpse of the amazing future with a planet transformed by thousands of social businesses. Yunus puts forward a pioneering model for nothing less than a new, more humane form of capitalism.

What I found most interesting (and inspiring) is that most of the people who have loans from Grameen Bank are women – women who are illiterate and often have never held money in their hands before. These are the same women whose husbands have felt don’t know about money or business. These women are now starting their own businesses and paying back the loans. They are contributing to the economical development of their communities. They are an integral part of their community and seen as such – and that’s powerful.

I’m so happy Dr. Yunus was able to visit us in Chicago and share his experience. It’s exciting to see so many great things happening all over the world to help reduce global poverty – and all because he and his bank are giving tiny loans to people who need it most.

Until next time…

Megy Karydes, Founder
www.World-Shoppe.com