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INVEST WITH VI$ION Women of poor families have all the obligations in the world but no rights, no security and no access to any activities bringing economic reward. Giving credit at a low rate of interest to poor women is a practical way to help them out of the poverty trap. The proof lies in the experience of the 'Bank of the Poor' Professor Muhammad Yunus, a former economics professor, became a crusader for rural women after visiting poor villages in southern Bangladesh. He founded the Grameen Bank in 1976 with one loan of $27 given to 42 poor women. By giving tiny loans to destitute rural women, ninety per cent of whom are illiterate, the Grameen Bank initiative has revolutionised development. Ninety-nine per cent of loans are fully repaid and today the Grameen reaches two million borrowers.
Guatemalan weavers formed a co-operative to learn the The poor have proved they are bankable! Professor Yunus says "We find that giving loans to women brings greater benefits to the family as women tend to be more far sighted and more concerned for long term security of the household." The WomenAid Spirit of Enterprise Fund is a Revolving Loan Scheme which provides micro loans to groups of poor women. Year after year your contribution will continue to help many poor women develop their income-generating ideas. |
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