On October 2nd thirty years ago, Muhammad Yunus founded the Grameen Bank in Bangladesh, the world’s most famous microfinance institution, by the grace of a special ordinance from dictator Hussain Muhammad Ershad. The German radio station Westdeutscher Rundfunk decided to commemorate this event with a 15-minute piece which included an interview with yours truly and with the incredibly well grassroots-informed Andrea Rahaman of non-microfinance NGO MATI.
Though not every statement of mine was used in context – for instance my explanation of the high costs incurred by lending tiny sums and collecting them in weekly instalments, illustrating the inefficiency of microfinance-based poverty relief – I like how the piece directly contrasts Yunus’ pathos-ridden and impressionistic proclamations with Andrea’s and my own sober descriptions of the reality of microfinance in science and on the ground. Thanks to this technique, Andrea and I perhaps got as close to having a real debate with the Gandhi of finance as any regular mortal can; though others certainly have tried, like Tom Heinemann (view part 4 / 2:40 of the documentary, to see Yunus almost comically avoiding speaking to the journalist).
Yunus doesn’t debate, he lectures. So (sadly just for the benefit of German speakers) here is the podcast of yesterday’s WDR5 Zeitzeichen and our pseudo-debate v. Yunus: http://gffstream-9.vo.llnwd.net/c1/m/1380029982/radio/zeitzeichen/WDR5_Zeitzeichen_20131002_0920.mp3.