1we Unlimited

Microcredit increasingly discredited

The success of the acclaimed microcredit is eroding fast. There is an increasing doubt about the effect of these small loans without collateral for the poorest. Stories of families sinking deeper into poverty due to exorbitant interest rates are no exception. A reason for 1We – One World Experience, the new style empowerment foundation, to make a U-turn and do it differently.   Six... Read More

‘People are not money-making machines’

A capitalist economy is inadequate. So says Muhammad Yunus, the father of microcredits. In the sober headquarters of his Grameen Bank in Dhaka, the Bengali winner of the 2006 Nobel Peace Prize argues passionately for ‘social business practices’ and the ‘recycling’ of money. “Doing business is only about making as much profit as possible. But people are not money-making... Read More

Yunus’ micro credit conquers the US

“Conventional banks are unfair; they do not grant loans to those people who need it most.” And: “In most Third World countries the government is not the right place for foreign development projects.” Muhammad Yunus, the guru of micro credit, does not mince his words. At the head office of his Grameen Bank in Dhaka, he speaks outspokenly about his fight against poverty.... Read More