Region:
America
Category:
Economy

Mexico: Muhammad Yunus attends conference of Microcredit in Merida

Region:
America
Category:
Economy
Author/s:
By Miguel Sangineto
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The Nobel Peace Prize winner Professor Muhammad Yunus said he does not understand banks "should lend money to people who need it and instead they lend money to people who have"

From today until Friday takes place in the city of Merida, located south east of Mexico the 17th congress of microcredit organized by the Federal Ministry of Economics.

After the initial opening of the Muhammad Yunus Nobel Peace Prize Professor, banker and economist of Bangladesh, start the shekel conference saying that he does not understand the banks, it is assumed that they should lend money to people in need and instead lend money to people who have. And he added "they work with the rich and I work with the poor, they work in the city, I work in the field, they work with men, I work with women." So directly Yunus began sitting this event leaving his critique creditico system practiced by the banks today posture.

Recall that the Nobel Peace Prize in 1983, 2006, created the Grameen Bank or Banco del Pueblo, in the last 20 years has lent over EUR 2,000 million to three and a half million poor; only people without land ownership can access such loans and more than ninety percent of them are returned successfully.

Moreover Alfonso García Mora, Director of the World Bank consulted Practices Forum "Ending Extreme Poverty" said the World Bank is reforming its policies to help eradicate poverty and especially extreme poverty. Must provide access to the most marginalized sectors through the reconstruction of new financial systems and from there a comprehensive development of people is achieved.

Moreover, the President of the National Bank for Agriculture and Rural Development of India (NABARD) Dr. Harsh Kumar Bhanwala. He said he can eradicate extreme poverty through financial inclusion, in less than a month in India, 7 million people who were previously excluded from the financial system agreed to a loan, and added that, should teach financial literacy for people to learn to manage their finances, governments and individuals must create the necessary tools to make this happen.

Tomorrow will be the main theme "Reaching the Unreached" which will discuss and analyze the measures to be taken, and what changes would be necessary to reach this goal.

The great challenge of this conference is to find answers, especially the question of whether do you really can end extreme poverty?

traslation: Belén Zapata