VU anti-poverty class heads to Bangladesh

from the Tennessean

By KATHLEEN SMITH
For The Tennessean

Twenty-five Vanderbilt University graduate students will spend spring break helping those at the "bottom of the pyramid," the people of Bangladesh.

Students in the Project Pyramid Global Poverty Alleviation program, a class offered by the Owen Graduate School of Management, will travel Wednesday to Bangladesh for a firsthand look at some solutions to poverty.

A highlight of the trip includes meeting with Muhammad Yunus, the 2006 Nobel Peace Prize winner and a Vanderbilt University graduate, whose Grameen Bank is changing the lives of the poor in Bangladesh through micro-lending.

"He is a man filled with not only deep experience but a ton of new ideas and inspiration for addressing poverty," said Bart Victor, director of the Cal Turner Program in Moral Leadership Across the Professions at Vanderbilt and professor for the Project Pyramid course at the Owen School.

After meeting with leaders of Grameen, the students will see operations at the ground level such as fisheries and livestock venues and talk to borrowers who got the micro-loans.

"These organizations have taken a very holistic approach towards development and poverty alleviation," explained Asif Shah Mohammed, an Owen student originally from Bangladesh.

"Microfinance is a form of social entrepreneurship and it engages the close-knit social structures of a village."

The majority of the recipients of Grameen's $5.7 billion in loans have been small groups of local women, who consistently have used the money to raise the quality of life for their families and then successfully pay back the loans.

Statistics show that for every dollar lent, a local woman invests 98-99% in her family.

The success of lenders like Grameen in recent years has caught the attention of global investors and business leaders.

"Developing solutions for poverty situations is not solely an altruistic end," said Ryan Igleheart, president of Project Pyramid and organizer of the trip.

"Companies have made millions of dollars offering the right product to people in countries like Bangladesh."

Study transcends finance

In addition to microfinance, students will examine energy solutions, housing projects, telecommunication, and education initiatives in the country, guided by their personal interests.

Incorporating students from backgrounds in business, divinity, education and other fields, Project Pyramid provides an interdisciplinary approach to helping those in poverty.

"The divinity students and Peabody students ensure that we're not just lost in the profit motive and remind us that there are social implications to whatever we do," explained Mohammed.

Divinity student Kate Burke said the course has made her think harder about global solutions.

"The world is a market world and divinity students tend to think outside of business. This is a great opportunity to get to participate in that world without compromising our morals and convictions."

Previous projects of the program included studying economic recovery in Tupelo, Miss., and last year's trip to Hyderabad, India. The trip to Bangladesh was made possible through financial support from Nashville businessman Cal Turner.

After returning on March 9, the graduate students will try to come up with ideas to offer Grameen and other lenders.,/span>