Book on “Small Loans, Big Dreams: Muhammad Yunus, Grameen Bank and The Global Microfinance Revolution” launched – Bangladesh Sangbad Sangstha (BSS)
Launch of Book on Microfinance Revolution Highlights Sustainable Development Goals
Event Overview
On June 30, 2025, the book titled Small Loans, Big Dreams: Muhammad Yunus, Grameen Bank and The Global Microfinance Revolution was officially launched at the RH Home Center, University Press Limited (UPL) head office, Green Road, Dhaka. The event gathered prominent figures involved in microfinance and sustainable development.
Key Participants
- Parveen Mahmud – Former Board Member of PKSF and Chairperson of Manusher Jonno Foundation
- Md. Fazlul Quader – Managing Director of Palli Karma-Sahayak Foundation (PKSF)
- Sardar Akhter Hamid – Managing Director of Grameen Bank, Bangladesh
- Alex Counts – Author and Founder of Grameen Foundation, USA
- Md. Rubaiyat Sarwar – Managing Director of Innovation Consulting (Ceremony Conductor)
- Mahrukh Mohiuddin – Managing Director of UPL
Book Significance and Content
This Bengali edition, translated by Syed Faiz Ahmed, offers a unique insight into the birth and growth of microfinance in Bangladesh under the leadership of Dr. Muhammad Yunus and Grameen Bank. The book emphasizes the role of microfinance in advancing several Sustainable Development Goals (SDGs), particularly:
- SDG 1: No Poverty – by providing small loans to marginalized populations to start businesses.
- SDG 5: Gender Equality – through empowering women as primary borrowers and entrepreneurs.
- SDG 8: Decent Work and Economic Growth – by fostering entrepreneurship and financial inclusion.
- SDG 10: Reduced Inequalities – enabling underprivileged communities to participate in the economy.
Insights from the Author and Discussants
- Alex Counts highlighted the innovative microfinance model designed by Dr. Yunus, noting that half of the borrowers are women, which aligns with SDG 5. He shared anecdotes of women in Bangladesh and Chicago who transformed their lives through small businesses supported by microfinance.
- Counts emphasized the reliability and financial prudence of women borrowers in Bangladesh, reinforcing the importance of gender-focused financial services.
- Md. Fazlul Quader pointed out that loans to women yield better results and improved financial management, contributing to sustainable institutional mechanisms (SDG 17: Partnerships for the Goals).
- Parveen Mahmud expressed pride in the homegrown Grameen Bank model that earned the Nobel Prize alongside Dr. Yunus, noting the expansion of microcredit’s reach over the years.
- Sardar Akhter Hamid described Grameen Bank as a “bank for the unbanked,” emphasizing its role in women’s empowerment and financial inclusion across rural Bangladesh.
Microfinance and Sustainable Development
The book documents how microfinance serves as a powerful tool to:
- Reduce poverty by enabling small-scale entrepreneurship (SDG 1)
- Empower women economically and socially (SDG 5)
- Promote inclusive economic growth and decent work opportunities (SDG 8)
- Address economic inequalities by integrating marginalized groups into the global economy (SDG 10)
- Build sustainable financial institutions supporting community development (SDG 17)
Author’s Background and Contributions
- Alex Counts founded the Grameen Foundation in 1997 with support from Nobel Laureate Dr. Muhammad Yunus.
- He served as President and CEO of the Grameen Foundation and later the American India Foundation (2016-17).
- Counts received the John F. Kennedy Memorial Award during his studies at Cornell University.
Conclusion
The launch of Small Loans, Big Dreams underscores the transformative impact of microfinance on sustainable development. By focusing on empowering women and marginalized communities, the Grameen Bank model exemplifies effective strategies to achieve multiple SDGs, fostering inclusive growth and poverty reduction globally.
1. Sustainable Development Goals (SDGs) Addressed in the Article
- SDG 1: No Poverty
- The article discusses microfinance initiatives by Grameen Bank and others that provide small loans to marginalized populations, helping them start small businesses and improve their economic status.
- SDG 5: Gender Equality
- The article highlights that half of the borrowers are women and emphasizes women’s empowerment through access to microfinance.
- SDG 8: Decent Work and Economic Growth
- Microfinance supports entrepreneurship and small business development, contributing to economic growth and decent work opportunities.
- SDG 10: Reduced Inequalities
- The article notes that microfinance helps reduce economic inequality by enabling underprivileged groups to participate in the economy.
2. Specific Targets Under Those SDGs Identified in the Article
- SDG 1: No Poverty
- Target 1.2: By 2030, reduce at least by half the proportion of men, women and children living in poverty in all its dimensions.
- Target 1.4: Ensure that all men and women have equal rights to economic resources, including access to basic services, ownership and control over land and other forms of property, inheritance, natural resources, appropriate new technology and financial services, including microfinance.
- SDG 5: Gender Equality
- Target 5.a: Undertake reforms to give women equal rights to economic resources, as well as access to ownership and control over land and other forms of property, financial services, inheritance and natural resources.
- SDG 8: Decent Work and Economic Growth
- Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation.
- SDG 10: Reduced Inequalities
- Target 10.2: Empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status.
3. Indicators Mentioned or Implied in the Article to Measure Progress
- Proportion of population living below the national poverty line (related to SDG 1.2)
- Implied through the success stories of microfinance borrowers improving their economic status.
- Proportion of women among borrowers of microfinance institutions (related to SDG 5.a)
- The article explicitly mentions that half of the borrowers are women, indicating gender-disaggregated data on microfinance access.
- Number of small businesses created or supported through microfinance (related to SDG 8.3)
- Implied by the anecdotes of women starting small businesses with microfinance loans.
- Level of economic inclusion of marginalized groups (related to SDG 10.2)
- Implied by the mention of enabling underprivileged people to participate in the global economy through microfinance.
4. Table of SDGs, Targets, and Indicators
SDGs | Targets | Indicators |
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SDG 1: No Poverty |
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SDG 5: Gender Equality |
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SDG 8: Decent Work and Economic Growth |
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SDG 10: Reduced Inequalities |
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Source: bssnews.net