In addition, a short discussion is taken on the issue of the possible pitfalls of replicating the bank’s popular introduction of the micro-credit program in Bangladesh to other poor countries.Grameen Bank and the impact of microcredit Despite the fact there are no precise standard courses of action for measuring poverty, the term, as defined by the United Nations (UN), has two concepts: absolute and relative (UNESCO 2014, par. Absolute poverty embraces the idea of measuring poverty in relation to the amount of resources needed to supply basic living needs for all individuals.Lending through joint liability characterises the release of loan borrowings by groups rather than individually with expressed acceptance of the liabilities for the loans of fellow members (Ahlin 2007, 2).
In addition, a short discussion is taken on the issue of the possible pitfalls of replicating the bank’s popular introduction of the micro-credit program in Bangladesh to other poor countries.
UN Millennium Development Goal number one desires to alleviate the incidence of poverty all over the world.
To do this, the United Nations introduced the microcredit initiative to help ease the burden of poverty by following of a system of financing and extension of loans to the poor.
The microcredit program of Grameen Bank has empowered majority of poor women in Bangladesh by allowing them to make decisions for themselves and on behalf of their families making an economically productive society.
This essay discusses the UN Millennium Development Goal on how to fight poverty and hunger, the success of microcredit and how this has been a successful financial service program as introduced by Grameen Bank to the people of Bangladesh, and the related strengths and weaknesses in terms of the program’s implementation.
The dominant factors influencing poverty, as revealed by a study (UNESCO 2014, par 3), are social structure and culture.
Clearly, both factors are beyond the control of the individual and there should be social and governmental intrusion to effect change and sustain communities.ICS volunteers also work with community volunteers and national volunteers in youth clubs raising awareness on topics such as sexual and reproductive health rights, health and hygiene and child marriage.If you are a Bangladesh national interested in volunteering with ICS please contact our local office by email: VSO Bangladesh team UK nationals interested in youth volunteering can apply on the ICS website.This program was aimed at the provision of accessible microcredit and micro financing schemes for the poor to elevate and mitigate wide ranging issues: income, women empowerment, and regional economic cooperation as a response to the ill-beings of poverty.Poverty has been a major global issue because it threatens every man’s right for life and self-determination leading individuals and organisations to seek for better ways to reduce its incidence.Here she takes a sensitive look at the complex issues of child marriage and family loyalty in Bangladesh.We have fully-funded opportunities for young people aged 18-25 to volunteer on projects lasting around 10 weeks on our International Citizen Service (ICS) programme.Relative poverty, on the other hand, is defined as a type of poverty that can be measured through identifying the economic standing of individuals in relation to other members of the society.Therefore, the contextual definition for both concepts revolves around the spectrum of consumption and income variables (UNESCO 2014, par 3).VSO is working to improve health outcomes, ensure that more people have safe, sustainable means of making a living, and working with communities to respond to the effects of a changing climate and environment.Our projects are making real progress, and we’re excited to see what we will achieve in a time of national growth of industry and opportunity.