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Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, and a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled nearly US$40 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent. The first economist who had invented the idea of micro loans was The Very Reverend Jonathan Swift in the 1720’s. Microcredit is part of microfinance, which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983 by their current Chief Adviser Muhammad Yunus. Many traditional banks subsequently introduced microcredit despite initial misgivings. The United Nations declared 2005 the International Year of Microcredit. As of 2012, microcredit is widely used in developing countries and is presented as having "enormous potential as a tool for poverty alleviation." Microcredit is a tool that can possibly be helpful to reduce feminization of poverty in developing countries.
The Rockefeller Foundation is an American private foundation and philanthropic medical research and arts funding organization based at 420 Fifth Avenue, New York City. The foundation was created by Standard Oil magnate John D. Rockefeller ("Senior") and son "Junior", and their primary business advisor, Frederick Taylor Gates, on May 14, 1913, when its charter was granted by New York. It is the second-oldest major philanthropic institution in America and ranks as the 30th largest foundation globally by endowment, with assets of over $6.3 billion in 2022. According to the OECD, the foundation provided $284 million for development in 2021. The foundation has given more than $14 billion in current dollars.
The Buddhist Tzu Chi Charity Foundation, is a Taiwanese international humanitarian and nongovernmental organization. Its work includes medical aid, disaster relief, and environmental work.
Grameen Bank is a microfinance specialized community development bank founded in Bangladesh. It provides small loans to the impoverished without requiring collateral.
Muhammad Yunus is a Bangladeshi economist, entrepreneur, politician, and civil society leader, who has been serving as the 5th Chief Adviser of the interim government of Bangladesh since 8 August 2024. Yunus was awarded the Nobel Peace Prize in 2006 for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. Yunus has received several other national and international honors, including the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010.
Boston College High School is an all-male, Jesuit, Catholic college-preparatory day school in the Columbia Point neighborhood of Dorchester, Boston, Massachusetts. It educates approximately 1,400 students in grades 7–12. Founded in 1863 as a constituent part of Boston College, the school separated from the college in 1927.
David Rockefeller was an American economist and investment banker who served as chairman and chief executive of Chase Manhattan Corporation. He was the oldest living member of the third generation of the Rockefeller family, and family patriarch from 2004 until his death in 2017. Rockefeller was the fifth son and youngest child of John D. Rockefeller Jr. and Abby Aldrich Rockefeller, and a grandson of John D. Rockefeller and Laura Spelman Rockefeller.
Cheng Yen or Shih Cheng Yen (Chinese: 證嚴法師, 釋證嚴; pinyin: Zhèngyán Fǎshī; Wade–Giles: Chêng4 Yen2 Fa3-shih1; Pe̍h-ōe-jī: Chèng-giâm Hoat-su; born Chin-Yun Wong; the 24th of the third Lunar month, 4 May 1937) is a Taiwanese Buddhist nun (bhikkhuni), teacher, and philanthropist. She is the founder of the Buddhist Compassion Relief Tzu Chi Foundation, ordinarily referred to as Tzu Chi, a Buddhist humanitarian organization based in Taiwan. In the West, she is sometimes referred to as the "Mother Teresa of Asia".
Roland Gerhard Fryer Jr. is an American economist and professor at Harvard University.
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John F. McKeon is an American Democratic Party politician who represents the 27th Legislative District in the New Jersey Senate, which primarily covers the western portion of Essex County. McKeon previously served in the New Jersey General Assembly from 2002 to 2024, where he was Assistant Majority Whip (2004–05), Assistant Majority Leader (2006–07), Majority Whip (2008–09), Deputy Speaker (2010–11) and was the Parliamentarian from 2022 to 2024. He is also a former mayor of West Orange.
Steven Clark Rockefeller is an American professor, philanthropist and a fourth-generation member of the Rockefeller family. He is the second oldest son of former U.S. Vice President Nelson A. Rockefeller and Mary Rockefeller.
C40 Cities Climate Leadership Group is a group of 96 cities around the world that represents one twelfth of the world's population and one quarter of the global economy. Created and led by cities, C40 is focused on fighting the climate crisis and driving urban action that reduces greenhouse gas emissions and climate risks, while increasing the health, wellbeing and economic opportunities of urban residents.
The Grameen family of organizations has grown beyond Grameen Bank into a multi-faceted group of both commercial and non-profit ventures. It was first established by Muhammad Yunus, the Nobel Peace Prize-winning founder of Grameen Bank. Most of the organizations in the Grameen group have central offices at the Grameen Bank Complex in Mirpur, Dhaka, Bangladesh. The Grameen Bank started to diversify in the late 1980s when it began attending to unutilized or underutilized fishing ponds, as well as irrigation pumps like deep tubewells. In 1989, these diversified interests started growing into separate organizations, as the fisheries project became Grameen Fisheries Foundation and the irrigation project became Grameen Krishi Foundation.
Kevin Bubriski is an American documentary photographer.
Geoff Dougherty is a Chicago journalist noted for founding two local news organizations, and for his work as a computer-assisted/quantitative journalist.
Fulbright University Vietnam (FUV) is a private nonprofit university currently located at the Crescent Plaza in Phú Mỹ Hưng in Hồ Chí Minh City, Vietnam. It is one of Vietnam's first private, nonprofit institutions of higher education. The FUV concept emerged from discussions convened by the Vietnam Program at the Harvard Kennedy School aimed at planning the next stage in the development of the Fulbright Economics Teaching Program (FETP), a center of public policy research and teaching in Hồ Chí Minh City.
The Four Heavenly Kings or Four Great Mountains四大名山 of Taiwan refers to four Buddhist masters in Taiwanese Buddhism who each founded an influential Buddhist institution in the country. The term draws its name from the Four Heavenly Kings who each rule over one of the heavenly realms in Buddhist cosmology. Like the Four Heavenly Kings mythology, each Buddhist teacher corresponds to one cardinal direction, based on where their organization is located in Taiwan. The corresponding institutions of the masters are referred to as the "Four Great Mountains".
Marshall L. Saunders was an American activist and founder of the Citizens' Climate Lobby. He raised funds and served on the board of a microfinance organization, spoke to thousands about climate change, and lobbied for United States Congress to adopt policies to reduce poverty.
References
- ↑ "Stocks". Bloomberg.com. Retrieved 2023-05-07.
- ↑ "Steven Rockefeller Jr. Visits Tzu Chi". www.tzuchi.org.tw. Retrieved 2023-05-07.
- ↑ https://cpl.hks.harvard.edu/files/cpl/files/workingpaper_44.pdf
- ↑ https://files.givewell.org/files/Round2Apps/Cause2/Grameen%20Foundation/Annual%20Report.pdf
- ↑ "BloombergBusiness Executive Profile: Stephen C. Rockefeller Jr". bloomberg.com. BloombergBusiness. Retrieved July 16, 2017.
- 1 2 "Stephen C. Rockefeller Jr". apecf.org. Asia Pacific Exchange & Cooperation Foundation. Retrieved July 16, 2017.
- ↑ "Grameen Foundation: Stephen C. Rockefeller Jr". grameenfoundation.org. Grameen Foundation. Retrieved July 17, 2017.
- ↑ "Steven Rockefeller Jr. Visits Tzu Chi". tzuchi.org. Tzu Chi Foundation. Retrieved July 17, 2017.
- ↑ "Lacey McKeon, Steven Rockefeller". The New York Times. 2019-04-07. ISSN 0362-4331 . Retrieved 2023-05-07.
- ↑ United States Public Records
- ↑ "Winter Wedding at the Harvard Club of Boston - The Ewings Photo Video". The Ewings. 2022-01-08. Retrieved 2023-05-07.
- ↑ "Real Rockefeller, 5 other Boston College students busted in break-in". Boston Herald. 2013-04-10. Retrieved 2023-05-07.
- ↑ Andersen, Travis (April 11, 2013). "Rockefeller family member among six Boston College seniors charged with trashing Brighton apartment". BostonGlobe.com. Retrieved 2023-05-07.