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Muhammad Yunus

Quote of the Week: Muhammad Yunus

Sina Odugbemi's picture

"The fact that people listen to me, they don’t walk away, they rather gather around me. And the young people get very excited – that’s what attracts me the most.  Young people are looking for things to do.”

- Muhammad Yunus, the founder and managing director of Grameen Bank, which pioneered microcredit, and a recipient of the Nobel Peace Prize in 2006.
 

Tapping the Youth Bulge

Maya Brahmam's picture

At the Global Voices on Poverty discussion on ending poverty during the World Bank-Fund Spring Meetings, Muhammad Yunus talked about the pressing need to engage young people and leverage their creative capacity in order to end poverty. He noted that young people are a completely different force that could be engaged on larger social issues – e.g., reforesting a country like Haiti – and that this could be accomplished via social business funds.

Given the recent gloom on youth unemployment, could social entrepreneurship be a silver lining? Certainly the global challenges are many and large. But so are the youth populations in many countries. Instead of reaping the demographic dividends, many countries fear future instability owing to the very large youth bulge. The Economist, in a recent article “Youth unemployment: Generation jobless,” calculates that all told, almost 290,000,000 (almost a quarter of the planet’s youth) are neither working nor studying.

Microcredit deserves support to benefit the poor

Shahid Khandker's picture

Microcredit has been in the spotlight lately. This innovative banking program, pioneered by Professor Muhammad Yunus, has created the option for millions of poor people, especially women, to become self-employed entrepreneurs.  By empowering women, microcredit has created opportunities to lift countless families out of abject poverty.  Clearly, this has been a net gain for society.  Yet current criticism of microcredit points to its failure to alleviate poverty, high indebtedness of borrowers, high interest rates, coercive loan-collection tactics, lack of transparency in public fund management, and uncertainty of succession in leadership.