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UNITED NATIONS CAPITAL DEVELOPMENT FUND Microfinance |
Issue 8 / January 2005 |
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Fazle Hasan Abed receives UNDP Human Development Award"Microfinance can make the difference between hope and despair for billions of people living in dehumanizing poverty," says Fazle Hasan Abed, founder of the Bangladesh Rural Advancement Committee (BRAC), Advisor to the International Year of Microcredit, and winner of the 2004 Mahbub ul Haq Award for Outstanding Contribution to Human Development. "Over the last two decades, understanding and experience of serving poor people with sustainable microfinance has been gained in many countries. These services need to be scaled up and integrated with each country's financial system." Mr. Abed received the Award from UNDP on December 15, in recognition of his extraordinary achievements in combating hunger, disease and illiteracy amongst the rural poor in Bangladesh. Mr. Abed was selected for the UNDP award by an esteemed panel of judges, for his work with some of the most destitute people in one of the world's poorest countries. Mr. Abed, a former Shell Oil executive, founded BRAC in 1972 to assist refugees returning from India after Bangladesh's Liberation War The relief work was soon finished, but poverty and vulnerability remained. He then expanded the organization to provide services to people affected by extreme poverty, discrimination and exploitation. BRAC, now the world's largest non-governmental organization, is recognized internationally for its pioneering efforts in microcredit, healthcare and education. BRAC has disbursed over US$2 billion to destitute women in Bangladesh; two thirds of these women have 'graduated' from absolute poverty to become microfinance clients. BRAC's efforts in healthcare have made a significant contribution to Bangladesh's achievement of the fastest decline in infant mortality rates in Asia. In addition, BRAC' educational efforts have helped Bangladesh increase primary schooling from 55% to 85% within two decades. "The goal of human development is to put people back at the center of the development process," said UNDP Administrator Mark Malloch Brown, who hosted the proceedings along with Mistress of Ceremonies Juju Change, the Emmy Award-winning correspondent for ABC News and "20/20" reporter. "It is about expanding choices for people, to enable them to enjoy long and healthy lives, knowledge, fair access to the resources and the ability to participate in the life of the community."
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