Community development and international aid

Brown, Malcolm D. (2014) Community development and international aid. In: Generation next: becoming socially enterprising. Oxford University Press, South Melbourne, Australia, pp. 188-202. ISBN 9780195527896

Abstract

Introduction:
Not only is social enterprise something that can be applied to the developing world - it also has some of its roots there. The Bangladeshi economist Muhammad Yunus won the
Nobel Peace Prize in 2006 for his pioneering work on microcredit. During a famine in 1974, he famously lent a total of US$27 of his own money to forty-two poor people who were being kept in poverty by exorbitant interest rates and unfavourable conditions imposed by moneylenders; this small amount of money was enough to begin the process of getting them out of debt and out of extreme poverty. Overturning the conventional wisdom that poor people were not creditworthy, this act was also the seed from which the Grameen Bank and the larger Grameen family of organisations would grow. Grameen Bank has an exceptionally high repayment rate of over 98 per cent (which is higher than many commercial banks in Western countries), and many of their microloans are used to help poor people become
financially self-sufficient, by making and selling bamboo products, opening food stalls, buying mobile phones that can be used by other villagers for a small fee, and so on (Yunus 2007). Many of these projects have been replicated and adapted elsewhere: for example, RUMA, which is discussed in the case study 'Pt Rekan Usaha Mikro Anda (PT RUMA): A Successful Story of an Indonesian Social Enterprise' following this chapter; has adapted the mobile
phone project to low-income communities in Indonesia.


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Item Type: Book Chapter (Commonwealth Reporting Category B)
Refereed: Yes
Item Status: Live Archive
Additional Information: Permanent restricted access to Published version due to publisher copyright policy.
Faculty / Department / School: Current - Faculty of Business, Education, Law and Arts - School of Arts and Communication
Date Deposited: 17 Mar 2015 04:54
Last Modified: 07 Jul 2017 03:17
Uncontrolled Keywords: community development; international aid; Muhammad Yunus; microcredit; Grameen Bank
Fields of Research : 16 Studies in Human Society > 1601 Anthropology > 160101 Anthropology of Development
14 Economics > 1402 Applied Economics > 140202 Economic Development and Growth
16 Studies in Human Society > 1605 Policy and Administration > 160505 Economic Development Policy
Socio-Economic Objective: C Society > 94 Law, Politics and Community Services > 9403 International Relations > 940302 International Aid and Development
URI: http://eprints.usq.edu.au/id/eprint/25508

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