Thursday, April 24, 2008

Microfinance heroes you should know!

Muhammad Yunus
The closest thing to God on earth? Perhaps not, but to microfinance enthusiasts like me, he is sacrosanct. Muhammad Yunus is a Bangladeshi economist who in 1976 came up with the idea of microfinance--small loans for the collateral-less poor--to remedy the povery he saw in his home country. The result? The Grameen Bank, which has helped more than 7 million people--97% of whom are women. For his work, Yunus was awarded the Nobel Peace Prize in 2006.



John Hatch
Another microfinance innovator, John Hatch started FINCA in 1984 in order to created a sustainable way to help the poor. He is a man who has dedicated his life to service. (For those of you who read gossip columns, FINCA is the charity the gorgeous Natalie Portman supports) On a personal note, I cannot think of a better role-model for young people. Having witnessed first-hand extreme poverty in Latin America, he took it upon himself to come up with a solution, even though he was just out of college.

Queen Rania of Jordan
The gorgeous Queen Rania is the face of the real results of microfinance. Since Jordan lacks the natural resources of other middle-eastern countries, village banks provides her citizens the ability to grow their own businesses. A champion of womens' rights, Queen Rania has used microcredit to empower women and give them ability to provide for their families. She's quite sharp, and I suggest you look her up on youtube.

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