Yesterday, Grameen Foundation supporters heard from an extraordinary woman. Mabel Berrío of Colombia wears many hats; she is a loving mother of four, proud owner of her own farm, and a leader in her community.
Grameen Foundation Insights
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At Grameen Foundation, our goal is to spur innovation in the global movement to eliminate extreme poverty. Part of that work is to develop better solutions and share them with people like you.
On GF Insights, we share lessons learned from our leaders in the field, news about efforts to expand access to financial and information services for the poor, and how poverty-focused organizations are using data to improve the way they work.
(L-R): Arcelia Gomez and Alex Counts of Grameen Foundation meet with Fred DeLuca, co-founder and president of Subway Restaurants, at the 2014 Subway Convention
The first time I heard the name Fred DeLuca I was spending some time at the Women’s Self-Employment Program (WSEP), a leading Chicago-based practitioner of U.S. microfinance at the time. His untimely death on September 14 profoundly saddened everyone connected to Grameen Foundation, which I founded in 1997.
Expectations for the business correspondent model in India have been high from the start. For a country of its size, with a significant unbanked population in remote and rural areas, allowing agents or correspondents to offer services on behalf of banks seemed like an intuitive way to counter challenges of access. Delivering on the promise of this model though, has not been easy. India’s financial sector continues to be dominated by banks, with regulatory barriers limiting the role and scope of agents.
In the mid-1990s, when I was winding up my decade of off-and-on living in Bangladesh, Professor Muhammad Yunus had his second big idea. I immediately knew it would have a big impact on the Grameen Foundation that I was then preparing to launch back in the United States. That idea was that information technology, if harnessed the right way by people with a strong sense of social purpose, could be a significant accelerator of poverty reduction globally. (His first big idea, of course, was that the world’s poor women were bankable.)
Camilla Nestor, Grameen Foundation’s Senior Vice President for Global Solutions, teaches a financial inclusion course at Columbia University’s School of International and Public Affairs. As part of her course, students submitted blog posts that were evaluated by professors and Grameen Foundation’s communications staff. The winning post is featured here.