xplaining his reasons for starting the project, Dr Yunus has said, "I came with the arrogance of a PhD; I thought we could solve the problems of Bangladesh. Once I was there, I was confronted with a nationwide famine and the arrogance melted away. I felt humbled; I couldn't do anything. Then I decided that, rather than worrying about what happens to the whole world, or Bangladesh, or the famine situation, I would just find out what I could do to help one person have a better day."
In several of his speeches at international fora, Dr Yunus has explained that he turned the conventions of banking around mostly because no financial institutions exist for two-thirds of the world's population - "We've created a world which goes around with money. If you don't have the first dollar, you can't catch the next dollar." He has strongly stood by his belief that 'the poor are credit-worthy and given the credit facilities, the poor can change their own lives'.
"This work is not just about loaning money, paying it back, and hoping that things will change. We also engage the people who borrow from us in discussions about the social problems that they face in their lives and the kind of solutions they imagine for themselves," he has emphasised.
Image: In this photograph, dated February 15 2004, Yunus watches as Queen Sofia of Spain interacts with Bangladeshi women during her visit to a microcredit project site in Comilla, some 80 kilometers northwest of Dhaka.
Also See: Borrowing to stay poor
Advertisement
