In the village of Jobra, Bangladesh in 1976, Muhammad Yunus was shocked to discover that 42 very poor families had borrowed a total of 856 taka (roughly $27 U.S. dollars) from the moneylenders, who virtually enslaved them with high interest and unfair condition imposed on the loans. He wrote in his book, Building Social Business, “To free these forty-two people from the clutches of the moneylenders, I reached into my own pocket and gave them the money to repay the loans. The excitement that was created in the village by this small action touched me deeply. I thought, ‘If this little action makes so many people so happy, why shouldn’t I do more of this?’”
So, he tried for several months to convince local banks to lend money to the poor but they all refused on the ground that the poor were not creditworthy. He then offered to become a guarantor for the loans to the poor and was successful in getting the loans from the bank. Acting as an informal banker, he came up with a few simple rules “such as having people repay their loans in small weekly amounts and having the bank officer visit the villagers rather than making the villagers visit the bank. These ideas worked. People paid back the loans on time, every time.”
After encountering more difficulties in expanding the program through existing banks, he decided to create a separate bank for the poor. This was the beginning of Grameen Bank or “village bank,” in the Bengali language. Today, Grameen Bank lends out over $100 million a month in collateral-free loans, serving the poor in every single village of Bangladesh. The bank is actually owned by the borrowers, who, as shareholders, elect 9 of the 13 members of the board of directors. Grameen Bank even lends to beggars. In 4 years since the launching of this program, over 18,000 have quit begging. Grameen Bank offers affordable loans for children of borrowers to go to school. More than 50,000 students benefited from these loans pursuing education in medical schools, engineering schools and universities. Grameen Bank is financially self-sustaining with all of its funds coming from deposits. The borrowers are required to save a little bit every week and their collective savings amounts to over half a billion U.S. dollars. Grameen Bank and Muhammad Yunus are the winners of the Nobel Peace Prize in 2006.
Christians are familiar with the story of the “feeding of the five thousand.” (Matthew 14:13:21) I call this one of the first sustainist stories on how to “do more with less.” It goes like this: the disciples asked Jesus to tell a hungry crowd to go way and buy themselves some food to eat. Jesus said to them, "They need not go away; you give them something to eat." They replied, "We have nothing here but five loaves and two fish." Taking the five loaves and the two fish, Jesus blessed and broke the loaves, and gave them to the disciples, and the disciples gave them to the crowds. And all ate and were filled; and they took up what was left over of the broken pieces, twelve baskets full. And those who ate were about five thousand men, besides women and children.
We called this a miracle because we could not understand how 5 loaves and 2 fish can feed 5000+ people and still have 12 baskets of leftover. But after knowing the story of the Grameen Bank, such miracle could happen and is still happening. Muhammad Yunus responded to the call to do something about the poverty (“you give them something to eat”) by offering $27 worth of loans for the poor people of Jobra. In 35 years, this meager amount has multiplied into wellness for uncountable individuals, families and communities with plenty of extra left-over. There are Grameen-type programs in almost every country in the world including the United States. Grameen America opened its first branch in Queens, New York in 2008. Its mission is to provide “affordable micro-loans to financially empower low-income entrepreneurs.” Its vision is “to help create a world free of poverty. We predict a market where any individual with a dream can receive affordable financial products regardless of income, previous credit history, education, or business experience. We envision a world where burgeoning entrepreneurs are empowered to lift themselves out of poverty through hard work and determination to forge better lives for their families and future generations.”
How will you respond to Jesus’s challenge, “you give them something to eat” today?
Invite members of your community to study the story of Grameen Bank just by reading what is on Wikipedia. Gather the community for a time of dialogue on how they “invest” their money for a sustainable society.
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Reflection Questions for Proper 13 (Year A): Genesis 32:22-31 Psalm 17:1-7, 16 Isaiah 55:1-5 Psalm 145:8-9, 15-22 Psalm 119:129-126 Romans 9:1-5 Matthew 13:31-33, 44-52 |
Eric H. F. Law
Kaleidoscope Institute
For competent leadership in a diverse changing world
www.kscopeinstitute.org
It’s not too late to register for the upcoming Kaleidoscope Training Institute in June and July at Cathedral Center of St. Paul, Los Angeles, California July 28-August 1 Media and Faith: Creating Audio Visual Electronic Media to Build Inclusive Community Also August at the Rainbow Lodge, North Bend (outside of Seattle), Washington August 15-19 Models and Processes for Community Transformation and Missional Ministry in the Grace Margin |