My brother Andrew, who is currently pursuing a business degree at BYU, hopes to go on to a career in microfinance. For those unfamiliar with that term, it involves making small loans to people who are so poor that most banks won’t lend to them. In developing countries, where less than $100 can allow someone to start a business and raise their family out of poverty, microfinance is working wonders for literally millions of people. Muhammad Yunus, who pioneered the microcredit principle three decades ago in Bangladesh, received the Nobel Peace Prize in 2006 for his ongoing efforts.
Andrew is currently applying for internships with a few groups involved in the microfinance movement. He commented to me recently that there seem to be two kinds of people working in microfinance: 1) True philanthropists who sincerely want to help others, and 2) Snooty people who get involved because it’s hip and exotic.
I’m sure the loan recipients in Third World countries are grateful for the help no matter what their lenders’ attitudes, but I can’t help feeling sorry for the self-centered, Type 2 folks. Bringing hope to so many could be such a joyful experience, but they’re so focused on themselves that they miss out on that.
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I read an article about these micro loans in the Church News. It is amazing how just a small amount of money can help someone start a small business that will allow them to become self sufficient.
I know. It's staggering to think that the amount we spend each month on beef jerky and Costco's dried blueberries could change someone's life somewhere else in the world.
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