Businesses Contributing to Living Conditions in an Asian Community Essay

Businesses Contributing to Living Conditions in an Asian Community - Essay Example She wasn’t the only one; there were a large number of individuals living in rural Bangladesh who had managed to bring significant improvements in their living condition with the aid of the microfinance program that was implemented by Grameen Bank. It was because of the Grameen Bank that thousands of poor Bangladeshi women were able to change their lives through the loans extended to them by Grameen Bank and initiate their own enterprises. The contribution of Grameen Bank was so significant that by the year 2003, it had over a 1000 branches all over Bangladesh, and it was reported that the bank had managed to aid about 48% of its borrowers to be able to move above the poverty line (Sarker, 2001). The model of the Grameen Bank due to its success in Bangladesh was replicated in other developing Asian countries. These comprised of countries like India, Pakistan and Vietnam where similar schemes were established in order to improve the living conditions and opportunities for the ur ban poor individuals. The aspect of providing small loans to the deprived can be considered as an economic intervention; however the Grameen Bank loan initiates a profound transformation in the lives of numerous individuals which are a part of its members. The poor women redouble their efforts to be able to bring about positive changes to their existing lives and their economic condition advances. The aspects with which this business touches the lives of the Asian community is the way in which it encompasses the popular issues of poor countries, such as education, eating healthy, consumption of clean water and the environmental issues (Shepard, 2003). Housing and Education Grameen Bank has worked extensively in endorsing its members by focusing specifically in the aspect of housing and education. They recognized quiet early that the poor families in these Asian communities were vulnerable mostly due to the fact that their houses were constructed out of poor and weak materials. This is when they started providing loans specifically for housing in the year 1984. Ever since then GB has aided individuals through housing loans for the construction of over 630,000 houses. They have focused in covering the costs associated with basic but durable building supplies as well as sanitary latrines, for its borrowers. How it contributes to a resource for the improvement of their standard of living is mostly because these homes serve not just as a place to reside in but also as a workplace for these individuals; So when the houses are stronger and better able to withstand the heavy rainstorms it helps these individuals resist the weather from destroying their livelihoods, which in turn has a positive impact on their health and families (Wijnbergen, 2012). Another aspect that the GB touches as far as the improvement of the Asian community is concerned is by supporting education of the families that constitute to that of its members. It was in the year 2000 that GB initiated e ducation loans specifically for higher education of the children of its borrowers. These loans worked on certain conditions and came into play after students reached a tertiary standard of education and were then in need of loans to receive higher education. These loans were very helpful in the way they covered tuition, maintenance costs, and all kinds of other expenses. By February