Update: Economic Recovery in Haiti and the Americas

Alberto Solano joined Grameen Foundation in October 2009 and provides leadership and management oversight for our portfolio and activities across the Americas.  He is leading our economic recovery efforts in Haiti.

Today, Leigh Carter (Executive Director of Fonkoze USA) and I gave a briefing about the current situation and role of microfinance in economic recovery efforts in Haiti.  I also spoke about the role that microfinance plays in relief and recovery efforts after natural disasters and Grameen Foundation’s work in the Americas region.

Leigh currently serves as Executive Director and CFO of Fonkoze USA, which is the US-based support partner of FONKOZE.  Leigh provided an overview of Fonkoze, the current situation in Haiti and its long relationship with Grameen Foundation.

Simple Acts of Kindness for Haiti

by Kay Hixson, Director of Marketing and Communications, Grameen Foundation

Sunday and Monday offered an opportunity to help Haiti in person. Hundreds, maybe thousands, answered the call.

People sorting supplies for Haiti in Washington DC

Boxes of goods for Haiti

This past Sunday, I visited the Haitian Embassy in Washington, DC to deliver baby and medical supplies. People were everywhere, bringing clothes, medicine and all kinds of things. Others were writing checks to support the relief effort, or just standing in the rain wanting to be near. Yes, it was a little chaotic, but no one seemed to mind. No one was pushing or shoving. No one was grumpy or impatient. When the Embassy personnel gave a directive, the crowd followed quickly. Friendly police were everywhere trying to direct traffic, which was backed up for blocks in all directions. Instead of writing parking tickets, the police helped people carry in the supplies and did their best to answer questions. While I was there, I heard that the Embassy-sponsored drive had just received the OK to bring the planes with emergency supplies into Haiti. I left with a lighter heart and was glad to see compassion and generosity in action.

Devastation in Haiti

By Kay Hixson, Director of Marketing and Communications, Grameen Foundation

Photo by Ben Depp.

As the hours wear on, we see more and more of the destruction. We just got these photos in today from our partners on the ground in Haiti. It is unimaginable that so many people have perished, but our spirits are lifted when we see heroic acts, people helping each other, and many risking their lives to help save their neighbors. We give a small sigh of relief every time we get a short text message saying “we found someone and they are OK.”

Photo by Ben Depp.

There’s much to be done, short and long term. One way to start is by adding your comment to this blog. We’ll send them to the people of Haiti through our partners and friends in Haiti. You will probably never see the smiles you generate on the face of some weary, displaced Haitian or an exhausted relief worker. But it just might be the boost they need to keep going. I hope you will join us with a comment, and donate if you can.

Photo by Ben Depp.

Day Four: Transit Back to Dhaka, and a Reunion

I awoke on Wednesday in what we in the U.S. would consider a large tin shed.  As the manager had warned, mice had run amok in the rafters at times during the night.  Fortunately, I was able to tune it out after a while.  Soon I was off to the Zianpur bazaar to say my goodbyes to the local Grameen staff, the teachers at the high school whom I had always been close to, and others in the community.  I felt quite emotional by the time I jumped on the back of a motorcycle and headed to Aricha, where I would get a public bus to Dhaka.

“It was a magical moment…”

Alex Counts is President and CEO of Grameen Foundation.

Muhammad Yunus receives the Presidential Medal of Freedom from Barack Obama

Today’s ceremony where President Barack Obama presented the Presidential Medal of Freedom to Professor Muhammad Yunus and 15 other incredibly accomplished citizens was a moment when any American, and any person, who wants the world to be a better place could feel proud. America’s highest civilian award was a well-deserved honor for Dr. Yunus based on more than three decades of accomplishment benefiting Bangladesh’s and the world’s poor, through championing microfinance and social business.

When President and Michelle Obama entered the room at 3:10pm, there was electricity unlike anything I had ever felt.

Reflections of our journey (Part 2)

Kathleen M. Snoddon recently returned from Morocco where she was able to witness microfinance first-hand. This is the second in a five-part blog series about her journeys.

Microfinance Clients at a borrower meeting

At the top of the ridge leading into the village, we encountered a small group of tattooed-faced Berber women washing their clothes and cooking utensils in the rudimentary but resourceful aqueduct system that ran the perimeter of the village.  They seemed curious but shy.  We had been advised not to take anyone’s pictures without their permission. Some of older generation still believes that a photo can somehow capture their soul.

Descending the dirt path, we heard a cackle of excitement.  As we reached our destination we saw a large Berber carpet laid on the ground under a grove of trees.  Hakima had told us to expect to meet with 6 to 8 women.  The plan was to meet together as a group to exchange greetings and stories and then to split into smaller groups to accompany the borrowers to their homes and places of business.  In this rural village, most businesses are run in or around each of their homes.

JP Morgan Lists Creating a World without Poverty on Annual Summer Reading List

JPMorgan named Creating a World without Poverty to its annual summer reading list. A committee of JPMorgan advisors from around the world reviewed over 450 works of non-fiction to determine this year’s list. The final 10 books were selected based on the quality of the content, the timeliness of the appeal and the expertise of the authors. See the full list.

Review + Reflection from a Social Business of a different sort (Pt. 2 of 2)

Jeff Delkin, co-founder, bambu

It’s our belief, that we have a responsibility to ‘give back’ to the planet and to the communities where we operate. It has always been central to who we are. We wanted to recognize and benefit the communities in which we work and live. And that place is China. While we may not be a social business as Yunus describes, we do provide support and volunteer services to the work of Grameen Foundation in China. We do donate over 1% of our total sales (not just profits) to non-profit organizations preserving and restoring the natural environment in China and around the world. We do donate to the local schools where the children of many our or craftspeople attend.

We are not a social business in the strictest sense of the word. We are a for profit company that strives to do good. And as such, I am not convinced that the social business model that Yunus describes is the best model.

Yunus argues that businesses with a social responsible strategy will have too often forego their good corporate citizenship for profit motives. And unfortunately, too often this does happen. But it happens to organizations which have not integrated their principles firmly into their business.

A simple spectrum of business models could look like this.

Social Business > Compassionate Capitalism > Profit Focused Capitalism

Our own business reflects more the ‘Compassionate Capitalism’ model. Yunus supports globalization and believes it brings more benefits than its alternative. He also recognizes the importance of marketing by conducting product testing, naming and identity development, and a tiered pricing strategy. Given that, businesses that practice compassionate capitalism can benefit many.

Review + Reflection from a Social Business of a different sort (Pt. 1 of 2)

Jeff Delkin, co-founder, bambu

I was inspired to write this post for a couple of reasons.

We first became aware of Grameen Bank while living in Asia. More recently we’re personally involved on a volunteer committee to help raise awareness for the work Grameen Foundation is doing in China.

Secondly as founders of a small business, bambu, we are interested in the concept of ‘social business’ that Dr Yunus’ introduces in his new book, Creating a World Without Poverty.
Central to our sense of purpose and value set at bambu, we concern ourselves with responsible stewardship of resources, giving back to the people and the communities in which we work in China and Vietnam, and preservation of the natural environment.

We strive to create an organization that acts with integrity. We describe ourselves as a values-driven company as opposed to a profit-driven company.

Dr. Yunus’ book presents some paradigm-breaking ideas that are a positive force for change, and made me reflect on our own business, and the role of business in general.

The notion of ‘social business’ is introduced in the first few pages. Yunus makes some important distinctions in defining what a social business is.

Importantly, he distinguishes a social business as one that directly makes products that poor people are willing to pay for, and one which directs all the profits back into the enterprise.

Help us create a world without poverty

When he asked for a meeting with Nobel Laureate Muhammad Yunus, Franck Riboud, CEO of Group Danone, a global corporate giant (whose American brand name is Dannon), didn’t realize that his concept of doing business was about to change forever. A few hours and a hand shake transformed the hard driving, profit-motivated executive, into an unwavering advocate of ‘social businesses’. Barely a year later, Riboud joined Professor Yunus in Bangladesh to launch Grameen Danone, with the mission of producing and selling specially-fortified yogurt to improve the health of poor Bangladeshi children.

In his new book, Creating a World Without Poverty: Social Business and the Future of Capitalism, Professor Muhammad Yunus expands his vision with the pioneering idea of social businesses. These companies operate as businesses with a strictly social mission and reinvest their profits to further their mission rather than distributing dividends to shareholders.

To many, this sounds like the impossible dream. But, drawing on his own experiences launching the world’s first purposely designed social businesses, Yunus shows how it can be done. From his collaboration with Danone to building eye care hospitals that will save thousands of poor people from blindness, Creating a World Without Poverty offers a glimpse of his vision for a world completely transformed by thousands of social businesses.