Reposted from www.peterkgreer.com
This week is the 75th birthday of Muhammad Yunus, the inspiring leader who asked a question which struck at the root of a paternalistic approach to poverty alleviation: Why do for people what they’re capable of doing for themselves?
This question served as the basis of Yunus’ groundbreaking work in the 1970s as he founded the Grameen Bank; pioneered the modern microfinance movement; and garnered some impressive recognition, including the Presidential Medal of Freedom and a Nobel Peace Prize.
Hundreds of thousands (myself included) have been inspired by the model of microfinance and signed up to help unleash women’s and men’s creativity around the world.
But recently there have been articles and thoughtful research projects critiquing this tool. Does this recent criticism undermine the microfinance movement? Does it unravel all that Yunus envisioned and that many of us have worked to implement?
![Before Eveness Mulungu joined the Walusungu (“mercy”) savings group through our church partner in Malawi, she faced days where she and her family ate animal feed because they couldn’t afford human food. But that changed when she joined the savings group. Eveness used her first group loan of about $1.70 (U.S.) to start a business selling doughnuts and beans.
“By the end of my first cycle I made $140 (U.S.),” Eveness shared. “My life is no longer the same now; [I] was regarded as no one in the community. ... This was the first time in my life that I ever touched and owned big money like this!”
Pictured: Eveness, with her husband in front of their piggery—a third successful business that she operates.](https://blog.hopeinternational.org/wp-content/plugins/instagram-feed/img/placeholder.png)