Muhammad Yunus: Lifting People Worldwide out of Poverty - Full Interview
Episode Description
What began with a loan of $27 to 42 women in a small village 33 years ago has grown into a global microcredit movement that has changed the lives of millions of poor people around the world. Muhammad Yunus, founder and managing director of Bangladesh's Grameen Bank, was the guest speaker at Wharton's MBA commencement on May 17 and the recipient of an honorary doctor of laws degree during the University of Pennsylvania's commencement on May 18. Yunus spoke with Knowledge@Wharton about his successes, challenges and upcoming initiatives. 📂 ESG
Brief Summary
Muhammad Yunus discusses the for-profit microcredit model, its global impact, and the need for regulation in the banking industry.
Key points
- Muhammad Yunus: A Visionary Leader. Yunus discusses the importance of a for-profit model in microfinance, emphasizing its role in empowering the poor.
- Redesigning Financial Systems. Yunus highlights the opportunity presented by the global financial crisis to create a better system.
- The Essence of Microcredit. Yunus explains that microcredit is a business with a social purpose, not a charity.
- Grameen Health Management Centers. Introducing village-level health management centers focusing on prevention and early detection.
- Grameen Danone's Social Business. Creating affordable yogurt with micronutrients for malnourished children.
- Education Loans for Grameen Children. Providing education loans to help children pursue higher education.
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Episode highlights
- Muhammad Yunus: A Visionary LeaderYunus discusses the importance of a for-profit model in microfinance, emphasizing its role in empowering the poor.“We are not trying to create a non-profit.”0:53May 27, 2009
- Redesigning Financial SystemsYunus highlights the opportunity presented by the global financial crisis to create a better system.“This global crisis is the greatest opportunity.”14:08May 27, 2009
- The Essence of MicrocreditYunus explains that microcredit is a business with a social purpose, not a charity.“Microcredit is a business program with a social purpose.”16:08May 27, 2009
- Grameen Health Management CentersIntroducing village-level health management centers focusing on prevention and early detection.“Our focus is the healthy people first.”21:13May 27, 2009
- Grameen Danone's Social BusinessCreating affordable yogurt with micronutrients for malnourished children.“Children love it; they pay five cents to buy a cup.”29:40May 27, 2009
- Education Loans for Grameen ChildrenProviding education loans to help children pursue higher education.“The money is our problem; you concentrate on their education.”39:34May 27, 2009
- Creating Opportunities for YouthEncouraging children from gaming families to become job creators instead of seekers.“You are not job seekers, you are job givers.”40:50May 27, 2009
- Nursing College InitiativeLaunching a nursing college to empower young girls from poor families with education and jobs.“We'll be giving nursing degrees to the young girls from grameen families.”42:56May 27, 2009
Tension
45/ 100Some tension
