Social Entrepreneurship—a means of empowering community
Nov 19th, 2010 by imransiddiqui
When I think of a social entrepreneur, the first person that comes to my mind is Dr.Muhammad Yunus, the managing director of Grameen bank. He introduced Grameen Bank as the bank of the poor. It offered micro-credit to people who don’t possess the creditability to borrow money and repay principal with interest.
How did micro-credit changed the world of poor? Click here. Jarima Khan, a poor woman whose husband earned 20 cents/day, was unable to eat even two meals a day. In December 1997, she heard of Grameen bank and borrowed her first loan of $20 USD. She used it to trade rice and today, she lives a happy and comfortable life fulfilling her and her family needs. Alike Jarima, there are thousands of poor women who borrowed money from Grameen bank and paved their path towards happiness.
This idea is a revolution. Grameen bank is based on mutual trust, participation and strict supervision. This social entrepreneur has identified a social problem and mechanized an effective solution to solve it. By 2050, micro-credit system is expected to reduce world poverty by 50%.
It’s a step towards making poverty a history.
