The Second day of the internship we learned about the different loan and saving types. I will write about it this weekend in more depth after I have been out in the field and seen it again for myself.
Social Commitment
There must be social commitment present to resolve poverty. Without social commitment, poverty will not be resolved. Rich people are called businessmen when they get credit from a bank, but when poor people get credit the term is that they are caught in debt. This is not necessarily the case, and it is claimed that this view must change to resolve the issue of poverty.. Before Grameen Bank microcredit there was no opportunity to get a loan for poor people. They were dependent on loansharks to get loans. With the Grameen Bank opportunity, they can become independent. Before, grandfather was poor, father was poor, self is poor, children will be poor, and grandchildren will be poor. Now, self can be employed, child can get university education and grandchildren parents are a doctor and they can also go to school. The Grameen Bank does not caught people in debt, rather they give people an opportunity for a better life by providing loans for income generating activities. The loan taker can when the loan is paid back stop being with the Grameen Bank at any time. Keep in mind that there is other organizations out there who use the term microcredit, but it might not be the same type of microcredit as Grameen Bank. Microcredit is supposed to have an positive impact on poor people's lives by providing loans for income generating activities. The loans are not provided for the Grameen Bank to generate an income.
To add another perspective to this, about loantakers being caught in debt or not. When I myself, get a loan for higher education with the Norwegian Loan Government, I consider myself lucky, not caught in debt. I’m lucky because I can get a higher education and create a good life for myself even when paying back the loan. Therefore, think about it again if you think Grameen Bank are keeping poor people caught in debt - the alternative is loansharks, and we all know what loansharks does to people.
Pass the Peace.
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