Jan 3, 2011

Grameen Bank : Microfinance institutions and economic growth in Bangladesh_ D. Mohammad Yunus

Grameen Bank Building in Dhaka



It is easy to be optimistic about many aspects of Bangladesh. The efforts of the Grameen Bank and other micro finance institutions at a wide variety of developments efforts have brought both pride and international fame: the spectacular success of garments industry has shown the potential for exports and the entrepreneurial capacities of Bangladeshi people. There was even a ranking by a British survey in 2000 witch found the to the Bangladeshis to be the happiest people in the world and yet, it does no take long for any conversation with Bangladeshis to turn to the topic of migration. Why there is incessant desire to leave? The poor has always been willing to try for food and shelter elsewhere. There is simple way to characterize the complex social income- the lake of hope for the future. Hope is a property of the long run. When we look into the distant future and see ourselves in a desirable situation, it sweetens all the toils of today. What is that generates hope? Religion, philosophy, culture, politics and economics are all the mix. I want to say a few words on the long run prospects for economic growth in Bangladesh.

So far many institutions have no job. Not the short-term growth only, long-term issues should be addressed with greater importance. If the long-term economic growth is brought within the medium term growth, it will bring welfare to all. The analytical requirements of pro-people economic growth must be fulfilled.

Pictures collected by http://www.wikipedia.org

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