Small Loans Bring Big Changes In Lives Of Poor: Nobel Laureate Yunus

Bhubaneswar: Bangladeshi economist, widely known as father of microfinance, Dr Muhammad Yunus, unveiled his book ‘A World of Three Zeros’ amid a literary gathering here on Friday.

The Nobel laureate is the founder of Grameen Bank, which provides small loans to poor in Bangladesh.

The book launching event was organised by Kadambini media house.

Bollywood actor-social activist-rugby player Rahul Bose also graced the event along with Lamiya Morshed, Executive Director, Yunus Centre, and Suraj Kumar, Chief Mentor, Niti Foundation. Founder, KIIT University and MP Achyuta Samanta welcomed Yunus and Bose while Lamiya described the basic content of the book.

“Three zeros are poverty, unemployment and emission of carbon. Time demands eradication of these three to make the world a better planet to live in,” said Lamiya.

This was followed by an interaction between Yunus and Bose moderated by Suraj Kumar.

Describing the making India zero poverty, Yunus said, “Poverty means being deprived of all human values. The role of bank is important in eradicating poverty. When I realised banks are not giving loans to the poor, I created micro-credit organisations to provide loans to the poor in Bangladesh. This facility has made a big difference to their lives. Making money could make one happy, but making other able to earn more money, one becomes super happy”.

The discussion took an interesting turn when Rahul Bose shared his opinion about happiness. “It differs from individual to individual. One needs to be ruthlessly honest with oneself. Yunus’s initiative could bring permanent changes in lives of many people which is happiness in broader sense”.

Talking about technology Yunus said, “It is a blessing as well as a curse. There must be surveillance to control. On this Bose said, “Nothing can be kept private in the time of internet other than thought. We are debating on the privacy of data and surveillance, but the fact we have lost the battle. Being a public figure, I believe we must read, listen and think 10 times before giving an opinion in public”.

Adding to the discussion, Samanta said, “There is another zero which needs to be achieved and that is illiteracy. By making people literate, poverty and unemployment can be eradicated.”

By creating jobs and enabling people to be employed and run their own enterprises, the concept of microfinance essentially strengthens family units, Yunus opined. He has demonstrated a life-long commitment in finding creative solutions to some of life’s most challenging problems. In addition to micro loans, his innovative idea of social business has also attracted a lot of attention in international forums, including the World Economic Forum.