Showing posts with label Intl. Development. Show all posts
Showing posts with label Intl. Development. Show all posts

Review: The Blue Sweater


"If you move through the world with your intellect, then you walk on only one leg. If you move through the world with your compassion, then you walk on only one leg. But if you move through the world with both, intellect and compassion, then you have wisdom"

These were the wise words of a Buddhist Monk Maha Ghosananda to Jacqueline Novogratz, as stated by the latter in her book titled The Blue Sweater: Bridging the Gap between Rich and Poor in an Interconnected World. I finally got around to completing the book, long overdue but worth the time it took to absorb the accounts of her experiences about her intellect AND compassion. For once, this book takes philanthropy at a different level, not in a prescriptive manner - one that defines charity and those anachronistic terms that look at 'social issues' from a sympathetic perspective - but with a personal revelation of life and times of those 10,000 hours spent as a healer, investor and an entrepreneur of social change.

"They say a journey of thousand miles begins with a single step. I took mine and fell flat on my face" -
This indeed is a strong beginning not only to the book but also to the journey that Novogratz embarked upon her own as she moved out of her comfort zone from the Manhattan skyscrappers to Hamlets across Africa and Asia. The book is an extension of its title '....in an interconnected world....' with a fascinating tale taking the author to Rwanda - the Switzerland of Africa, a land of 1,000 mountains with sharp contrast of poverty and political upheavals; region that made her realize that in order to contribute, she would 'have to be ready to take Africa on its own terms, not hers'!.

Novogratz presents her book in the form of a memoir through numerous tales of social enterprise, each with a flow of emotions, perceptions and ideas on issues of poverty. These stories are gripping and in that, Novogratz leaves no loose ends. Her writing style brings out the transformation within her, the kind of philanthropic direction she drives herself into and who she goes on to become. She describes the Rwandan genocide in a manner so powerful and poignant that it leaves the readers distraught by the end of it. Her take on founding the Acumen Fund resonates the unconventional wisdom of philanthropy, a trend made more meaningful thanks to the likes of (among many others) Muhammad Yunus and Bill Drayton. Needless to say, these individuals including Novogratz, in their own way, are now monuments of social entrepreneurship.

Don’t get me wrong here. The Blue Sweater is not only about lessons of poverty and social enterprise but indeed about utmost honesty that instigates sense of hope and optimism. Of course, there are parts in the book that are left abruptly, areas where she could have further elaborated on strategic processes that were the result of her work or given a glimpse of the individuals whom Acumen later supported. Further, certain parts in the book seemed quite cliché according to me – quotes of prominent individuals at the beginning of almost every chapter. One can get quotes from Nelson Mandela, Roosevelt, Martin Luther King, Jr., Gandhi, even the Qoran. She may be inspired by them all but they do appear out-of-place especially in some of the chapters. Yet, my favorite of them all -


“We are made wise not by the recollection of our past, but by the responsibility for our future"
- George Bernard Shaw

Overall, The Blue Sweater is a fascinating read especially for those involved in international aid and development. It is a paradigm-shift from what we already know – social enterprise, economic sustainability, poverty – to empowering leadership, dialogue and social change.

Want to know whether the book is for you? Find out here.

Wondering if The Blue Sweater does exist? Read the book and find out more.

The Girl Effect



THE WORLD IS A MESS -




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For more information on this, go to
http://www.girleffect.org/

Micro-Lending Enters USofA

A few weeks ago, the front page of Financial Times carried an article announcing that the Grameen Bank from Bangladesh has entered the US Markets, setting shop in Queens, NYC.

http://www.ft.com/cms/s/0/d05bb6d2-dc30-11dc-bc82-0000779fd2ac.html

Its main clientele would currently include lending to the disadvantaged women population and then expanding into other areas. A third-world bank lending money to the world’s richest country! Ironical yet so true!

The bank was created with the principle of lending those stuck in the BPL Trap –the ‘below poverty line’ – those not even considered within the closest circumference of the normal bankers. It is to nudge those who have no security, beggars on the roads so to say, those who have never managed $100 finance. It is to lift lives of these kinds of people that the idea of micro-finance was born. Named as one of the greatest entrepreneurs of the current age and time, Professor Mohammed Yunus pioneered micro-credit. There are loads of websites and innumerable resources behind the Man, his vision and his commitment.

Not going into those details, I too wonder (with my miniscule knowledge of the global markets) whether Grameen Bank could, as stated in the article, ‘make an impact in the US where the credit is widely available and businesses and tax systems were much trickier to navigate than in developing countries’? Will the strategies of Micro-Credit work in the country that fell into the hands of the mortgage meltdown? Is such a lending possibility about to pave way for a revolution in a country that has been knocked down due to the (ahem) subprime options?

Having read up a bit on the subprime credit, it appears that both, microfinance and subprime function on similar objectives i.e. lending those with no access and both have lower rates of interest. The fascinating aspect would be to really see how, despite these factors that failed the subprime, the micro-credit principles, that flamed to success across South Asia and Africa (among others too), build its model in the developed world. There is no doubt that Professor Yunus has moved this world ahead and a classic example of ‘One Individual Making a Difference at the Macro Level’ – in this case, tackling global poverty!

He has indeed, consolidated and about to conquer! So really, Kudos to him for his motives, his compassion and conviction in engaging people to take action and also, in entering the West, at the precision of time and age!