Yunus: give aid directly to the people who need it

12 July 2007 at 11:59 am | Posted in Grameen Bank, Microcredit, Muhammad Yunus, News, Nobel Peace Prize, Poverty, Sydney Peace Prize | Leave a comment

Nobel Laureate Professor Muhammad Yunus has called on Japan to expand its ODA (overseas development assistance) to include social businesses, Bloomberg reported.

Yunus, the inaugual Sydney Peace Prize in 1998, said the traditional ODA which depends on government-owned infrastructure projects to stimulate economic growth is “a very roundabout way” of reducing poverty. To do that effectively, “It should be the government to the people of the country wherever you are sending money,” he said.

Yunus added that Japan and other countries who contribute to overseas aid should consider extending the aid to projects that local people can run as their own businesses and expand on their own.

He said: “Asia is in good shape right now…The thing is, can you get poverty down to zero level? Poverty doesn’t belong in a civilized society.”

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