A Proposal For Reducing Poverty Essay

1846 Words Dec 9th, 2016 8 Pages
The president elect and I have recently examined three proposals that are very promising in successfully reducing poverty in Anchuria. Both him and I are devoted to reducing poverty in our country as well as providing jobs. As the Secretary for Economic and Development, I believe these three proposals from Yunus, de Soto and Kohli have the potential to spur economic growth and decrease poverty as well as determine the best way to use our resources.
We were influenced by Muhammad Yunus to use nearly all of our oil revenues to provide microcredit programs for the country’s poor. At current oil prices, the Anchurian government receives $410 million in oil revenues. With that $410 billion we could create a small bank, similar to the Grameen bank, that would provide small loans to the poor despite them not having any collateral (Yunus, M. 1999). This would spur economic growth by allowing the poor to lift themselves out of poverty. Similar to the Grameen bank, we would have the system of group membership because we’ve observed their successes in Bangladesh (Yunus, M. 1999). Group membership would encourage members to support one another and to be more reliable. And since there will be weekly payments, loans should be paid back within a year (Yunus, M. 1999). As we’ve seen in Bangladesh, microcredit has more of an influence in decreasing the amount of children conceived than family planning does. And over 90% of Grameen loan recipients have their children in school. Not only will…

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