Analyse the main reasons for the success of the Grameen Bank and examine the ways in which weaknesses concerning its impact can be overcome.
Introduction – You must show why the topic is important
Microcredit (MC) is important as it represents a major academic battleground between supporters, who see it as a chance for one of the most marginalized groups – poor, rural females in developing countries to ‘catch-up’ by finally getting access to credit, which will allow them to improve life chances and detractors, who argue that it is part of the unwarranted and unfair financialization of development processes. That is, MC individualises development by lending to one person and putting huge pressure on them to make a success of the loan, measured in economic terms – increased productivity and profits resulting from investments in small enterprises. Moreover, MC has not led to any substantive changes in structural patterns of inequality in countries, such as Bangladesh, where it is prevalent.
Very briefly outline these two opposing views and then move to a focus on Grameen Bank – as the most well known provider of micro-credit globally – for your statement of organization (how you will organize the sections)/thesis. Outline which arguments you will focus on to highlight reasons for the success of Grameen then state which weaknesses will be addressed and how it will be suggested that they can be overcome.
Main Body
1. Background and context – define the concept of MC and summarise briefly its rise to importance in the context of the substantive influence of Grameen Bank. MC rose to prominence in the 1970s, much influenced by the founder of the Grameen Bank in Bangladesh, Muhammad Yunus. It progressed unevenly through the 1980s and picked up impetus during the 1990s. Currently, it is very influential and has been taken up by large multilateral organizations, such as the World Bank, by bilateral donors (DFID) and by grassroots groups, organizing their own MC programmes.
2. Arguments in favour of Grameen Bank as a Success – Divide into economic and social
Economic
Examine the increase in GDP in Bangladesh as a result of the work of Grameen..
Examine effects at the household and village level – females have more disposable income and spend it wisely to improve the diet, the health and the education of family members..
Examine individual effects on lives of borrowers – female success stories – new skills learned, confidence gained, lives transformed.
Social
Gender issues – rise in employment and empowerment of women. The work of Grameen has led to more visibility of women in the productive sector and thus to more acceptance of females outside the reproductive sphere in patriarchal societies.
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