It is widely accepted as fact that the creation of a stable financial system is the catalyst which facilitates economic development and prosperity. However, developing countries which embark on a path of change often forget the cardinal rule: addressing the needs of those who suffer from poverty, inequality, and political strife. In other words, change starts from the ground up; not the other way around. First among the challenges facing these countries, is the need to change the lending rules followed by traditional financial institutions- banks and other private lenders- who are unwilling to provide their services to individuals with little income and few if any assets that can be used as collateral. Second, global organizations like the United Nations, World Bank, and the International Monetary Fund have failed to provide aid in a way that forces the creation of positive and sustainable change for fragile and destabilized societies. For this reason, many developing countries which receive financial aid are no better off than they were before the interventions occurred, and in some cases worse. Finally, other aid programs and even well-intentioned government efforts to reduce poverty fail simply because they are misguided. Too much attention and financial resources are devoted to grand schemes of long-term duration and not enough is given to impacting human lives in the present. In 1973, visionary economist Muhammud Yunus witnessed his beloved country of Bangladesh sinking into the deepest realms of poverty; much of its population in despair and left without hope of extricating itself from a bleak existence. The problem was compounded by the fact that its government was preoccupied with matters of State iii rather than those of its people; its financial institutions were oblivious to the pain and hunger which surrounded them, and international donors were simply giving away money without any form of control or direct involvement. Out of this scenario, Yunus started with an idea that would alter not only his life, but the lives of people in Bangladesh and the world over: micro-finance. To this day, nearly every text written on the subject calls micro-finance a weapon in the fight against global poverty, but only a mere few recognize just how much of the gains made in this ―fight‖ are attributable to the direct involvement of women in micro-financing. This thesis posits that while Muhammud Yunus created an idea for the benefit of ―the global poor‖, it actually became a medium for the empowerment of women around the world. In fact, much of the praise awarded to micro-finance as success omit recognition of what should be obvious: the driving force behind the success of microlending is (poor) women. This statement does not seek to diminish the merits of an idea which has put a significant mark on the global economy, or to ignore the accomplishments of millions of men who through hard work have overcome poverty. However, what began as a genderless effort to help the poor of Bangladesh soon changed to one that overwhelmingly favored women. To this day, lending primarily to women has become the modus operandi of the microfinance industry for one reason above all: because women have proven they are a good business risk. The first part of this thesis will analyze the birth and development of the microfinancing system with special emphasis on its creator, Muhammed Yunus and the financial institution he founded for the purpose of implementing his idea, Grameen Bank. The second part will review the growth of micro-financing across the world with iv focus on Kiva, a web-based organization which represents the melding of micro-finance with 21st century technology. Finally, the thesis will look at Pro Mujer, a micro-financing organization which has successfully operated in Latin America for the last 20 years and developed a niche that expands the horizons of empowerment.

<p>In course of time the role of the individual being has become increasingly important in the fight against poverty. Through its microcredit programmes, the organization Grameen Bank offers “aid to self-help” to poor women on the countryside in Bangladesh. The purpose of this essay is to investigate how participation in Grameen’s microcredit programmes can affect these women’s social situation and working situation. In order to achieve the purpose the following questions have been formulated: How does microcredit affect women’s self-esteem, influence in the household, and exposure to domestic violence? How does microcredit affect women’s occupational situation, to what extent do they have control over their loans, and how is microcredit regarded in comparison with permanent jobs, as a way to reduce poverty?</p><p>The research, which has been carried out as a qualitative text analysis, shows that Grameen plays an important role when it comes to improving women’s living conditions. The access to microcredit helps women increasing their working activity as well as their self-esteem and influence in the household. However, microcredit does not merely create positive consequences. There are cases where microcredit increases the risk of domestic violence. Often the loans are transferred within the household, and then controlled by men. In addition, women’s use of microcredit is still confined to activities traditionally performed by women. These factors are important to consider when evaluating Grameen’s programmes, since they counteract Grameen’s vision of creating development for women.</p>

Zugl.: Hamburg, University, Diss. A.-V. Noelle, A.E. Busse, 2008.

This study is a part of a poly generation project which will use animal waste or agricultural waste to produce biogas and will provide cooking gas, electricity and arsenic free clean water for drinking in rural areas of Bangladesh.  The study mainly analyzes the cooking and lighting energy demand of households across different income groups in a village named “Pani Para” in the Faridpur district in Bangladesh and also looks at the potential of biogas in the village. It has been done by adopting case study method and conducting a survey in the village using a questionnaire. Fuel mix across different income groups for meeting their cooking and lighting energy needs have also been studied along with socio-economic situation of the villagers and their preferences to change their current cooking fuel utilization patterns. Various scenarios like variation in fuel consumption patterns, priority of income expenditure and access to fuel with income level have been examined. The study also focuses to analyze the awareness of the villagers about biogas technology and their willingness to contribute for the poly generation project along with the willingness of households to pay for embracing change in current cooking and lighting fuels. Biomass potential i.e. cow dung and agricultural waste is also calculated in the surveyed village along with the production of biogas from the available biomass resources. The scenarios to provide the cooking gas, electricity and clean water through biogas poly generation project from the available resources are also investigated. Analysis reveals that the total energy consumption (cooking and lighting) increases with the increase in the income level among the households. Average household cooking and lighting energy demand by low, medium and high income groups is 8492 kWh/yr, 9789 kWh/yr and 14806 kWh/yr respectively. Cooking energy demand and agricultural waste consumption also show an increasing trend with the increase in land holding size. Among the income expenditure priorities food is one of the most important priorities and energy being less important due to availability of biomass at little or no cost. Awareness of biogas technology among the households and willingness to contribute for the poly generation plant shows an increasing trend with the increase in education level. The study shows that there is a positive response of the villagers for being willing to embrace the change in the current cooking patterns as well as welcoming new technologies that could support such a change. It was found that the cow dung resource in the village is not enough to produce sufficient biogas for the poly generation project. With the incorporation of the agricultural waste with the cow dung, biogas production comes quite close to requirement of the poly generation plant but however could not suffice it completely due to the lack of raw material in the studied village. In that case the scenario of providing electricity and clean water to all the villagers and providing all the three facilities to the 2/3rd of households is investigated. 1/3rd of the low income households then could meet their cooking demands by provision of improved cooking stoves as cooking gas could not be provided to them due to limited feedstock. The study shows that despite of the fact that cooking and lighting energy needs increase with income but there is not much variation in the fuel mix and almost everyone in the village rely on biomass to meet their energy demand. It is because there is very limited access to the modern fuel for cooking and no electricity access in the village, so the households have to rely on the traditional fuels. / <p>KTH School of Industrial Engineering and Management, Department of Energy Technology, Division of Energy and Climate studies</p>

This study strives to examine how microfinance activities can be successfully applied in the developed world. This is done through a field study in New York City. Throughout interviews and observations with three of the largest actors in New York: Acción USA, Grameen America and Project Enterprise, as well as interviews with their clients, the lending processes and key characteristics of the organizations have been mapped. Furthermore, the Federal Reserve Bank of New York has been interviewed on the general opinion of microfinance in the US. Previous theory elaborates on some of the major challenges with implementing microfinance activities in the developed world, such as lack of funding and cultural differences hindering the lending processes to be carried out as they are in the developing world. Henceforth, problems regarding regulation, awareness and outreach are discussed. Throughout the observation of the institutions we can confirm that some of the challenges brought up in theory actually are apparent. We do, however, question the criticism towards the use of group-based lending programs in the developed world. Our study does, in contrast to previous research, imply that the concept does work as well in the US as it does in developing countries. Since this is a case study based on the observations of only a few organizations, it is precarious to draw any general conclusions based upon the findings. Indications of key success factors are, though, group-based lending programs, non-financial services, creating awareness, financial sustainability, savings as funding, standardized regulations and increased transparency. Finally we advocate focus on job creation to obtain acknowledgement.

This study strives to examine how microfinance activities can be successfully applied in the developed world. This is done through a field study in New York City. Throughout interviews and observations with three of the largest actors in New York: Acción USA, Grameen America and Project Enterprise, as well as interviews with their clients, the lending processes and key characteristics of the organizations have been mapped. Furthermore, the Federal Reserve Bank of New York has been interviewed on the general opinion of microfinance in the US. Previous theory elaborates on some of the major challenges with implementing microfinance activities in the developed world, such as lack of funding and cultural differences hindering the lending processes to be carried out as they are in the developing world. Henceforth, problems regarding regulation, awareness and outreach are discussed. Throughout the observation of the institutions we can confirm that some of the challenges brought up in theory actually are apparent. We do, however, question the criticism towards the use of group-based lending programs in the developed world. Our study does, in contrast to previous research, imply that the concept does work as well in the US as it does in developing countries. Since this is a case study based on the observations of only a few organizations, it is precarious to draw any general conclusions based upon the findings. Indications of key success factors are, though, group-based lending programs, non-financial services, creating awareness, financial sustainability, savings as funding, standardized regulations and increased transparency. Finally we advocate focus on job creation to obtain acknowledgement.

對於企業或非營利組織而言，創造經濟價值亦或社會價值，不僅不再有壁壘分明的責任歸屬，兩迥異型態的組織能緊密合作，或者透過一新型態組織予以連結，皆有助於促進經濟層面與社會層面兼備的價值產出成果。然而，經濟與社會一向被認為必須有所取捨，在創造價值的過程中又能如何共存？ 　　回顧論及「企業之於社會價值」及「非營利組織之於經濟價值」相關文獻，發現其探討多源於以機構為核心的價值創造思考；然而，價值創造理論已然發展至共創（Value Cocreation，即以個人為核心的創價思考），當更多人有能力參與組織創價過程時，組織的價值創造又將如何發展？ 　　於價值共創架構下，能創造更大經濟價值已被廣為驗證，機構如與個人共創解決社會問題，亦能創造社會價值。本研究透過個人為中心的價值共創架構，以孟加拉葛拉敏銀行（Grameen Bank）為例，試圖詮釋選定個案與共創架構的對應關係，藉以觀察葛拉敏銀行與借款人參與經濟價值與社會價值的創造脈絡，尋求經濟價值、社會價值可同時發展，取得機構與個人共識之可行性研究。 經由本研究有以下發現： 1.以機構為核心的創價邏輯，是單向且簡化地揣測個人需求價值，以致於局限了創價來源的廣度與價值內涵的深度。 2.葛拉敏銀行不需獨斷地揣測客戶需求，客戶確實需要什麼，什麼價值對客戶有意義，全在不斷地互動過程中明確獲知、參與討論、進而共創。 3.信任基礎、小處著手、避免衝突、留給借款人介入空間、共同原則，皆有助於葛拉敏銀行與借款人之間互動品質的提升。 4.產品為主的經驗環境尚需隨著大環境的改變進行演進，在基礎建設匱乏的孟加拉，員工於經驗環境中的重要性更高。 5.以個人為中心與銀行、行員、純粹社群、及葛拉敏姐妹機構所構成的經驗網絡，能使個人自由選擇共創經驗，是謂未來葛拉敏銀行強力的競爭基礎。 6.葛拉敏銀行透過價值共創直接針對社會需求缺口提供服務。社會價值，是每一借款人與葛拉敏銀行共創價值的集合，社會價值的最大公約數是雙方共同的目標。 7.於價值共創架構中，葛拉敏銀行透過互動品質的追求、經驗環境的創新、與經驗網絡的建置，維持獲利。追求社會價值之餘，不需犧牲機構的經濟價值。

One factor of the leadership stratagem is to account for the core values, operations, and growth of the organization. The purpose of this case study was to ascertain the financial strategies small business leaders incorporate to help ensure growth of small businesses. The conceptual framework of Schumpeter's innovation and entrepreneurship theory and the Grameen model were included to drive the scope and analysis of this study. A purposive sample of 8 leaders from successful small businesses in Islamabad contributed to a focus group session; 4 out of these participants originated from the finance and management department and 4 represented sales and product development departments working in 3 outlets of the firm. Transcript review and member checking were used to support the reliability of the interpretation of participants regarding what they said and meant from their responses. Moreover, company documents were reviewed to triangulate the data. Yin's 5-step data analysis plan was used for the final data analysis. Four major themes surfaced from data analysis: Microfinance, product quality, customer care, and strategic vision. These endorse business leader stratagem and association to their mission, financial strategy, overall business operations, and survival and growth. Product quality is vital to maintain and retain valuable customer for revenue generation. Customer care is emphasized for its importance as an ethical practice and gaining customers confidence. Strategic vision is recognized as the foremost leadership skillset to plan and organize future business strategies effectively, which impacts business growth and longevity. The outcome of this study may contribute to positive social change by enhancing understanding of the leadership strategies that impact the longevity of the business to secure jobs and benefit employees, their families, and the surrounding community.

Credito deriva etimologicamente da “credere”, cioè avere fiducia, confidare. Chi già possiede molto dimostra facilmente di essere in grado di restituire un prestito e di conseguenza non fa fatica ad ottenerlo. Chi invece non dispone di risorse finanziarie adeguate, chi non è “bancabile” viene escluso. È qui che entra in gioco la fiducia, perché ci si può sentire garantiti anche solo dalla conoscenza personale del debitore, dalla sua storia creditizia. Si parla in questi casi di garanzia solidale, alternativa. Se il credito è “micro”, la fiducia invece è “macro”. Oltre alla fiducia nel concetto di microcredito ci sono una serie di ingredienti fondamentali che non possono mancare. Innanzitutto ci deve essere un prestito di piccole dimensioni. Poi ci deve essere uno scopo diverso dal semplice consumo: l’avvio di attività produttive e commerciali, un aiuto a superare particolari e temporanee situazioni di crisi che possa fornire delle risorse minime fondamentali per interrompere il circolo della povertà e del necessario ricorso all’usura. Il microcredito che è nato nei Paesi sottosviluppati si è esteso rapidamente anche nelle economie moderne. Anche il legislatore italiano nel 2010 ha introdotto nell’ordinamento nazionale una disciplina del microcredito. Tuttavia ricondurre all’interno degli schemi bancari tradizionali uno strumento così complesso come il microcredito che unisce in sé aspetti non solo finanziari ma anche e soprattutto etici può risultare riduttivo e rischia di vanificare i risultati raggiunti fino ad oggi nella prassi. Anche nel settore agricolo il microcredito può costituire un valido aiuto per lo sviluppo. Le regole e la logica del microcredito se funzionano bene nelle economie rurali dei Paesi sottosviluppati, come dimostrato dai diversi progetti posti in essere ad esempio in Uganda, fanno più fatica ad essere recepite nelle economie moderne, soprattutto in ambito agricolo dove le caratteristiche stesse dell’attività da finanziare e gli ingenti capitali iniziali necessari rendono lo strumento del microcredito poco utilizzabile. Tuttavia occorre puntare sullo sviluppo di questo strumento che ha dimostrato di avere numerosi punti di forza che possono davvero costituire un valido strumento di lotta alla povertà anche nelle economie moderne. / Credit derives etymologically from "believe". People who have money can easily demonstrate to be able to repay a loan and therefore not is hard to get it. Those who do not have adequate financial resources, those who are not "bankable" are excluded. If the credit is "micro", trust instead is "macro". In addition to trust, in the concept of microcredit there are a number of essential ingredients that can not miss. First, there must be a loan small. Then, the start of production and business activities can help to overcome individual temporary crisis situations that may provide minimal resources essential to stop the cycle of poverty . Microcredit who was born in underdeveloped countries has expanded rapidly in modern economies. Even the Italian legislature in 2010 adopted national discipline of microcredit. However, it’s hard to find the rules to regulate the microcredit and the risk is to delete the results achieved in practice. Even in agriculture microcredit can be a valuable aid for development. The rules and logic of microcredit work well in rural economies of developing countries, as shown by several projects for example in Uganda, but in modern economies the characteristics of the activities and the enormous initial capital required make the instrument of microcredit little usable. However the development of this tool is very important because microcredit can really be a valuable tool for fighting poverty even in advanced economies.

The threat of global warming is bringing a new pro-environmental paradigm all over the world under the Kyoto Protocol. Addressing climate change is beneficial to all countries because environment is global public good. However, because global warming is also closely related to each country’s specific condition such as industrial development and political situation, prudent approaches considering different situations of each country are required in order prevent unintended negative consequences. This study focuses on the weakness of the current CDM (Clean Development Mechanism) in terms of impeding sustainable development in LDCs (Least Development Countries). As a case study, the Grameen Shakti Program in Bangladesh demonstrates the potential scenario of sustainable development in LDCs through CDM markets and a new financial model of CERs (Certified Emissions Reductions) is suggested to support and replicate the Grameen Shakti Program other LDCs. / text