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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 US$38 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 Jonathan Swift I 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. 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.
Danish Committee for Aid to Afghan Refugees (DACAAR)(Danish: Den danske komité for hjælp til afghanske flygtninge) is a non-political, non-governmental, non-profit humanitarian and development organization working to improve the lives of the Afghan people since 1984.
Michael Robert Kremer is an American development economist currently serving as University Professor in Economics at the University of Chicago and Director of the Development Innovation Lab at the Becker Friedman Institute for Research in Economics. Kremer formerly served as the Gates Professor of Developing Societies at Harvard University, a role he held from 2003 to 2020. In 2019, Kremer was jointly awarded the Nobel Memorial Prize in Economic Sciences, together with Esther Duflo and Abhijit Banerjee, "for their experimental approach to alleviating global poverty."
Pratham is one of the largest non-governmental organisations in India. It was co-founded by Madhav Chavan and Farida Lambay. It works towards the provision of quality education to the underprivileged children in India. Established in Mumbai in 1995 to provide pre-school education to children in slums, Pratham today has interventions spread across 23 states and union territories of India and has supporting chapters in the United States, UK, Germany, Sweden, and Australia.
Mildred Robbins Leet was an American entrepreneur and philanthropist. She was a co-founder and Chair Emerita of the Board of Directors of Trickle Up, a New York–based international non-governmental organization dedicated to alleviating poverty.
Village Earth: The Consortium for Sustainable Village-Based Development (CSVBD) DBA: Village Earth is a publicly supported 501(c)(3) non-profit, non-governmental organization (NGO) based in Fort Collins, Colorado, US. The organization works for the empowerment of rural and indigenous communities around the world with active projects with the Oglala Lakota on the Pine Ridge Indian Reservation in South Dakota, the Shipibo-Konibo of the Amazon region of Peru, India, Cambodia, and Guatemala. Village Earth is associated with the International Institute for Sustainable Development (IISD) at Colorado State University. Village Earth is also the publisher for The Appropriate Technology Library and The Appropriate Technology Sourcebook, a low-cost rural-development resource initiated by Volunteers in Asia in 1975 but transferred to Village Earth in 1995.
Esther Duflo, FBA is a French–American economist who is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology (MIT).
Abhijit Vinayak Banerjee is an Indian-born American economist who is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology. He is co-founder and co-director of the Abdul Latif Jameel Poverty Action Lab (J-PAL), an MIT based global research center promoting the use of scientific evidence to inform poverty alleviation strategies. In 2019, Banerjee shared the Nobel Memorial Prize in Economic Sciences with Esther Duflo and Michael Kremer, "for their experimental approach to alleviating global poverty." He and Esther Duflo are married, and became the sixth married couple to jointly win a Nobel or Nobel Memorial Prize.
Innovations for Poverty Action (IPA) is an American non-profit research and policy organization founded in 2002 by economist Dean Karlan. Since its foundation, IPA has worked with over 400 leading academics to conduct over 900 evaluations in 52 countries. The organization also manages the Poverty Probability Index.
Seva Mandir is an Indian grassroot NGO based in Udaipur, in Rajasthan state, founded by Dr. Mohan Sinha Mehta in 1968. Seva Mandir works mainly in natural resource development and sustainability, village development, women empowerment, education and health care, continuing education, and children's welfare.
The Abdul Latif Jameel Poverty Action Lab (J-PAL) is a global research center working to reduce poverty by ensuring that policy is informed by scientific evidence. J-PAL conducts randomized impact evaluations to answer critical questions in the fight against poverty, and builds partnerships with governments, NGOs, donors, and others to generate new research, share knowledge, and scale up effective programs.
Dean Karlan is an American development economist. He is Chief Economist of USAID and Professor of Economics and Finance at Northwestern University where, alongside Christopher Udry, he co-founded and co-directs the Global Poverty Research Lab at Kellogg School of Management. Karlan is the president and founder of Innovations for Poverty Action (IPA), a New Haven, Connecticut, based research outfit dedicated to creating and evaluating solutions to social and international development problems. He is also a Research Fellow and member of the Executive Committee of the board of directors at the Abdul Latif Jameel Poverty Action Lab (J-PAL) at the Massachusetts Institute of Technology. Along with economists Jonathan Morduch and Sendhil Mullainathan, Karlan served as director of the Financial Access Initiative (FAI), a consortium of researchers focused on substantially expanding access to quality financial services for low-income individuals.
Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty (2011) is a non-fiction book by Abhijit V. Banerjee and Esther Duflo, both professors of Economics at Massachusetts Institute of Technology (MIT) and Nobel Memorial Prize in Economic Sciences laureates. The book reports on the effectiveness of solutions to global poverty using an evidence-based randomized control trial approach. It won the 2011 Financial Times and Goldman Sachs Business Book of the Year Award.
The National Rural Livelihood Mission (NRLM) is a poverty alleviation project implemented by the Ministry of Rural Development, a branch of the Government of India. This plan is focused on promoting self-employment and the organization of rural poor. The idea behind this program is to organize the poor into Self Help Groups (SHGs) and make them capable of self-employment. In 1999, after restructuring the Integrated Rural Development Programme (IRDP), the Ministry of Rural Development (MoRD) launched Swarnajayanti Grameen Swarojgar Yojana (SGSY) to focus on promoting self-employment among the rural poor. SGSY is now remodelled to form NRLM, thereby plugging the shortfalls of the SGSY programme. This program was launched in 2011 with a budget of $5.1 billion and is one of the flagship programs of the Ministry of Rural Development. This is one of the world's most prominent initiatives to improve the livelihood of the poor. This program is supported by the World Bank with a credit of $1 Billion. The program was succeeded by Deen Dayal Antyodaya Yojana on 25 September 2015.
The Challenging the Frontiers of Poverty Reduction: Targeting the Ultra Poor (CFPR-TUP) project was initiated by BRAC, a Bangladesh-based development organisation in 2002. The ultra poor are a group of people who eat below 80% of their energy requirements despite spending at least 80% of income on food. In Bangladesh, they constitute the poorest 17.5 percent of the population. These people suffer from chronic hunger and malnutrition, have inadequate shelter, are more prone to disease, deprived of education and more vulnerable to recurring natural disasters. The CFPR-TUP programme is aimed at households which are too poor to access the benefits from development interventions such as microfinance and assists them to access mainstream development services. As of 2015, the program cost around US$35 million a year.
BOMA is a U.S. nonprofit organization and Kenyan NGO that works to provide poor women living in the arid and semi-arid lands of Northern Kenya with the educational, financial, and technological resources to lift themselves out of poverty. Its mission is to “empower women in the drylands of Africa to establish sustainable livelihoods, build resilient families, graduate from extreme poverty and catalyze change in their rural communities.”
The/Nudge Institute, formerly The/Nudge Foundation, is an Indian non-profit action institute established in 2015 with the aim to contribute to "a poverty-free India."
Good Economics for Hard Times: Better Answers to Our Biggest Problems is a 2019 nonfiction book by Abhijit V. Banerjee and Esther Duflo, both professors of economics at MIT. It was published on November 12, 2019 by PublicAffairs (US), Juggernaut Books (India), and Allen Lane (UK). The book draws from recent developments in economics research to argue solutions to the issues facing modern economies and societies around the world, including slowing economic growth, immigration, income inequality, climate change, globalization and technological unemployment. It is their second collaborative book since the publication of their book Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty (2011) and their first since becoming a married couple in 2015. The book's publication comes a month after Banerjee and Duflo were jointly awarded the Nobel Prize in Economics, shared with Harvard University professor Michael Kremer.
The United Nations Framework Convention on Climate Change (UNFCCC), the Paris Agreement, the Sustainable Development Goals (SDGs), and the United Nations Convention on the Rights of Persons with Disabilities (CRPD) are connected through their common goals of addressing global challenges and promoting sustainable development through policies and international cooperation.
The 2019 Nobel Memorial Prize in Economic Sciences was awarded jointly to the economist couple Abhijit Banerjee, Esther Duflo-Banerjee and their colleague Michael Kremer "for their experimental approach to alleviating global poverty". Banerjee and Duflo are the sixth married couple to jointly win a Nobel Prize. The press release of the Royal Swedish Academy of Sciences noted:
"The research conducted by this year's Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research. They have laid the foundations of the best way to design measures that reduce global poverty"
References
- ↑ "For a world free from extreme poverty". Trickle Up. Retrieved 2024-05-14.
- ↑ "Helping the Poor to Create Successful, Life-Changing Businesses | Tufts Now". now.tufts.edu. 2021-07-14. Retrieved 2024-01-17.
- ↑ Kristof, Nicholas (2019-05-29). "Opinion | Cash, Food and Health Care All Help the Poor, but Something's Still Missing". The New York Times. ISSN 0362-4331 . Retrieved 2024-05-14.
- ↑ "Partnerships". Trickle Up. Retrieved 2024-05-14.
- ↑ Banerjee, Abhijit; Duflo, Esther; Goldberg, Nathanael; Karlan, Dean; Osei, Robert; Parienté, William; Shapiro, Jeremy; Thuysbaert, Bram; Udry, Christopher (2015-05-15). "A multifaceted program causes lasting progress for the very poor: Evidence from six countries". Science. 348 (6236). doi:10.1126/science.1260799. ISSN 0036-8075.
- ↑ Lecture 3: Poverty Traps: Graduation Programs . Retrieved 2024-05-14– via www.youtube.com.
- ↑ "The Impact of a Graduation Program on Livelihoods in Refugee and Host Communities in Uganda | IPA". poverty-action.org. Retrieved 2024-05-14.
- ↑ "Call for Nominations: InterAction 2022 Disability Inclusion Award". InterAction. Retrieved 2024-01-17.
- ↑ http://csonet.org/content/documents/E-2014-INF-5%20Issued.pdf [ bare URL PDF ]