Little did he realise that he would soon have an opportunity to demonstrate what he meant. Following the ouster of Bangladesh's authoritarian Prime Minister, Sheikh Hasina, earlier this month, Mr Yunus was chosen to lead the country's caretaker government.
Founded in 1971 after a bloody war of independence, Bangladesh is an unlikely candidate to be a poster child for development, given its exploding population and acute vulnerability to natural disasters. Yet by the 1990s, it had a credible claim to this title. When many other developing countries were being suffocated by the neoliberal Washington Consensus, Bangladeshi figures like Mr Yunus (with his Grameen Bank) and Fazle Hasan Abed (the founder of the anti-poverty nonprofit BRAC) were leveraging a third tool beyond the state and the market: Civil society.
Working as a young development scholar in Bangladesh in the early 2000s, I witnessed these pioneering NGOs' early work firsthand. They sought solutions not on the blackboard but in the field, creating a global petri dish for innovations in development. As one of my interviewees put it, Bangladesh was "the Wall Street of development."
Bu hikaye Business Standard dergisinin August 31, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin August 31, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
NPS FUND RETURNS Equity-debt allocation: Let risk appetite, not past-yr returns, decide
Funds under the National Pension System (NPS) have delivered strong returns over the past year across all asset classes, exceeding their longer-term averages.
Index AUM criteria to limit MF Lite's ambit
The strict product launch conditions under the MF Lite framework leaves little room for innovation by asset managers opting for this newly introduced route to enter the mutual fund (MF) business, experts said.
Mumbai realty firms to build on demand, robust pipeline
The outlook for Mumbai-based real estate players remains strong given the launch pipeline and demand outlook reflected in the registration data for December.
Mkts open in green for 7th year running
2025 OUTLOOK: Face headwinds from high valuations, domestic demand issues, and global uncertainties
Sebi simplifies disclosure norms for listed entities with integrated filing
The Securities and Exchange Board of India (Sebi) has made integrated filing for Listing Obligations and Disclosure Requirements (LODR) effective for all disclosures starting with the quarter ending December 2024.
Stock Consolidates, Outlook Bright
With just two trading sessions to go before the ITC-ITC Hotels demerger record date, shares of ITC continue to consolidate in a thin range of ₹460-485 in an otherwise volatile equity market.
NSE enforces mechanism for brokers to curb market abuse
The National Stock Exchange (NSE) has issued a guidance note for stock brokers to ensure prevention and detection of fraud or market abuse.
ITC Hotels to go the Jio Fin way
ITC's move to hive off its hotel business will have implications for passive funds and exchange traded funds (ETFs) similar to that seen during the Reliance Industries-Jio Financial demerger.
Air India Becomes 1st Indian Airline to Offer Wi-Fi on Domestic Flights
The in-flight Wi-Fi will allow flyers to connect multiple devices simultaneously when above 10,000 feet in the air
2024 Warmest Year in India Since 1901: IMD
The year 2024 was the warmest on record in India since 1901, with the average minimum temperature settling 0.90 degrees Celsius above the long-period average, the India Meteorological Department (IMD) said on Wednesday.
