Alex Counts is president, CEO and founder of Grameen Foundation, and author of several books, including Small Loans, Big Dreams: How Nobel Prize Winner Muhammad Yunus and Microfinance are Changing the World.
Last week I had the pleasure of visiting the historic city of Istanbul for the first time, on the occasion of the first Grameen-Jameel (GJ) partners meeting, followed by a two-day meeting of GJ’s Board of Directors, on which I serve. GJ is a joint venture launched five years ago between Grameen Foundation and the Jeddah-based Abdul Latif Jameel Group to advance microfinance and poverty reduction in the Middle East and North Africa (MENA), and now Turkey as well. (Peter Bladin and Jim Greenberg are the other two Grameen Foundation representatives on the GJ Board, while Fady Jameel is one of the two Jameel Group appointees, in addition to chairman Zaher Al Munajjed.)
The partners meeting was elevated by the presence of not just representatives of 13 of the 15 GJ’s partner microfinance institutions (MFIs), but by Grameen Bank founder and Nobel Laureate Professor Muhammad Yunus. (The only MFIs that did not join were one from Egypt and one from Syria, the latter due to the inability to get a visa, because Turkey has closed its embassy there.)
The first day of the meeting consisted of an excellent overview by its General Manager, Julia Assaad, of GJ’s accomplishments. She announced that GJ had surpassed its goal of reaching 1 million poor families with microfinance through its partner MFIs to date, and had in fact crossed the 1.5-million mark in September. Representatives of five of the partners – the Turkey Grameen Microcredit Program (TGMP)in Turkey, Enda Inter-Arabe in Tunisia, DBACD in Egypt, Tamweelcom in Jordan and FONDEP in Morocco – spoke about their journey of starting and growing their organizations, and how GJ was able to help them in critical ways. (more…)