Monday, December 2, 2013

Post no 3: MICRO-AID model for poverty alleviation (a revolution).

We would like to prefer and recommend educational institution based micro-aid model for poverty alleviation. We encourage college and university teachers take initiative to form cooperative society to operate micro-aid program for poverty alleviation. Each of the teacher and student of the institution may contribute as little as US $ 1.00 to generate seed fund for the cooperative society. If the monthly contribution by the teacher and students continue, the fund will be ever increasing to support the community involved with that institution. Large amount of fund may be raised through such initiative which will be ever increasing each year. For example, about US $ 1.2 million fund may be raised by such cooperative society organized in an educational institution comprising teacher-student community of ten thousand by ten years. 

The fund will be recycled through micro-aid program where micro-aid will be provided without any interest to facilitate micro-business or SME. The borrower will have to repay the same amount he received to start/operate his business. Therefore, micro-aid fund generated by such cooperative society will never end up and will be ever increasing each year. Such program will be continued by voluntary services of the teacher-student community. Therefore, operational and management cost will be very minimal for such organization. 

To boost up micro-aid programs, millions of dollar funds that are presently being utilized by micro-credit organizations may be handed over to such cooperative societies, if those really would like to remove poverty instead operating micro-credit business for their personal interest. We are also knocking at the donors and sponsors of micro-credit fund to reconsider the better option provided by micro-aid model for poverty alleviation. We specially and humbly request Nobel laureate Grameen Bank and Dr. Muhammad Yunus to support micro-aid model and gradually hand over all the micro-credit funds to such cooperatives for poverty alleviation. We further stress on the fact that DYNAMIC WELFARE FOUNDATION is providing you comparatively better solution to the micro-credit system for poverty alleviation and you decide whether to support us or not.

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