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Grameen Bank Internship Experience Essay

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World Bank Internship Program - Internship Opportunities - Bank Internships

World Bank Internship Program 

The World Bank Internship Program is open to students who are nationals of the Bank's member countries and attracts a large number of highly qualified candidates.

The goal of this Internship Program is to offer successful candidates an opportunity to improve their skills as well as the experience of working in an international environment.

Interns generally find the experience to be rewarding and interesting.

To be eligible for the Internship Program, candidates must possess an undergraduate degree and already be enrolled in a full-time graduate study program (pursuing a Master's degree or PhD with plans to return to school in a full-time capacity.

Generally, successful candidates have completed their first year of graduate studies or are already into their PhD programs.

This Program typically seeks candidates in the following fields:

  • Economics, finance, human development (public health, education, nutrition, population), social science (anthropology, sociology), agriculture, environment, private sector development, as well as other related fields.
  • Fluency in English is required.

  • Prior relevant work experience, computing skills, as well as knowledge of languages such as French, Spanish, Russian, Arabic, Portuguese, and Chinese are advantageous.

    The World Bank Group Internship Program is offered during two seasons:

  • Summer (June-September).
  • Winter (December-March).

    All applications MUST be submitted on-line.

    The Bank pays an hourly salary to all Interns and, where applicable, provides an allowance towards travel expenses.

    Most positions are located in Washington, DC (some positions are offered in country offices) and are a minimum of four weeks in duration.

  • The application period for the Summer Program is December 1 - January 31 each year.
  • The application period for the Winter Program is September 1 - October 31 each year. For more information and a list of eligible countries, please see; World Bank Internship Program

    World Bank Internship Program - bank summer internship - hsbc internship - commerce bank internship - citizens bank internship - regions bank internship - key bank internship - grameen bank internship - world bank internship undergraduate - commercial banking internships - finance internships - wachovia internships - banking internships for sophomores - investment banking internships - banking internships summer - banking internships abroad - banking internships cover letter united nations internship program - undp internship program - unicef internship program - internship programs scholarship - internship opportunities scholarship - working at the world bank - world bank jobs - world bank careers - Internships – Internship Search and Intern Jobs | Internships. Intern Abroad. Inspiring Interns: Graduate Jobs & Internships | Recruitment for Interns - World Bank Internship Program

    Find internships and employment opportunities in the largest internship marketplace. Search paid internships and part time jobs to help start your career.

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    Poverty Reduction Strategy: The Grameen Bank Experience

    Human Resources Development and Operations Policy
    (Number 23, February, 1994 )

    Poverty Reduction Strategy: The Grameen Bank Experience

    Profitable and sustainable financial intermediation is possible with the poor, who are otherwise excluded from the formal credit system because of lack of collateral, and poverty reduction is possible through targeted credit. This is the key finding of an ongoing study of the Grameen Bank conducted jointly by the World Bank and the Bangladesh Institute of Development Studies. This study uses aggregate and branch- level data of Grameen Bank for 1985 through 1993 to determine how the Bank operates, at what cost, and whether its program is sustainable and replicable. The study uses village-level data to examine macro-level effects, such as the Bank's impact on rural wages. The study also uses household survey data to examine household and intrahousehold impacts on income, employment, asset accumulation, nutrition, health, and education. Some of the findings of this study are reported below.

    Strategies for Poverty Reduction

    Grameen Bank believes that lack of access to credit is the biggest constraint for the rural poor. If the poor are provided credit on reasonable terms, they themselves best know how to increase their incomes. Grameen Bank targets and mobilizes the poor and creates social and financial conditions so that they receive credit by identifying a source of self-employment in familiar rural non-farm activities. The Bank's method of targeting the poor is effective as it mobilizes only those who are willing to bear the costs of group formation, training, and monitoring each other's activities, and those who are satisfied with the relatively small sums they can borrow and repay. To better meet its ultimate goal of social and economic development, Grameen Bank targets women more than men. By doing so, it directly channels credit to the poorest and the least empowered and helps improve the living standards of their families. Along with providing credit, Grameen Bank offers guidelines to members for codes of conduct and activities aimed at improving their social and financial conditions. It also provides training to women in maternal health, nutrition, and childcare to generate greater demand for basic health care services.

    Strategies for Financial Intermediation

    Lending entails high risk of loan default due to adverse selection of borrowers and disability of lenders to enforce the loan contracts. Contrary to the practice of formal finance, Grameen Bank lends (in small amounts) to the poor based on group responsibility where individual access to credit depends on group repayment behavior. Group lending uses peer pressure to monitor and enforce contracts and helps screen good borrowers from bad ones. Unlike other development banks, Grameen Bank mobilizes savings as an integral part of lending. Each member is required to save Taka 1 each week and buy a Grameen Bank share worth Taka 100. In addition, each borrower contributes 5 percent of the loan amount to a group fund and Taka 5 for every 1,000 Takas above loan size greater than Taka 1,000 to an emergency fund. These savings mobilization schemes provide protection of loans against default, an internal source of finance, and a stake for the members in Bank operations.

    Grameen's Success as a Bank in Reaching the Poor

    In 1993, with 1,039 branches covering almost half of Bangladesh's villages, the Bank served more than 1.8 million borrowers and disbursed $169 million. By 1993, cumulative member savings totaled over $218 million. Almost 94 percent of the Bank's members are poor women, accounting for nearly 70 percent of savings mobilized, and receiving over 80 percent of the total loans disbursed. Its loan recovery rate has been consistently over 90 percent compared with rates from 25 to 50 percent for other financial institutions in Bangladesh. Contrary to common belief, Grameen's experience is that women are better credit risks with higher loan recovery rates than men (97 percent compared to 89 percent in 1992), and that the dropout rate is lower for women (15 percent) than for men (25 percent). The Grameen model is being replicated in more than 30 countries and the World Bank has provided a grant of $2 million for its replication in low-income countries.

    Grameen's Success in Poverty Reduction

    While sophisticated econometric analysis is underway, preliminary analysis suggests that Grameen Bank has generated a number of benefits both at the household and village level. At the household level, the benefits from program participation include changes in income, employment, assets accumulation, networth, and other household welfare indicators (such as contraceptive use, school enrollment of children, etc.). Program participation has enabled members to enhance their assets and networth. For example, a program participating household owns 56 percent more resources and 51 percent more networth than a nonparticipating household. Program participation has also increased calorie intake, especially among female household members. The incidence of poverty is substantially reduced among program participants. Labor force participation, especially among women, is higher among participants than nonparticipants; women's labor force participation is 66 percent among program participants compared to 52 percent for non participants. The school participation rate of girls is also higher for participants (57 percent) than for nonparticipants (36 percent). Program participation also increases the use of contraceptives, better toilet facilities, and better drinking water. In addition, program placement generates income gains for the poor as a whole through its impacts on the local resource allocation. For example, the daily male wage is 23 percent higher in program villages compared with nonprogram villages. Even after controlling for village characteristics, the study finds that up to 11 percent of the 23 percent wage increase is due to Grameen Bank program placement.

    The leadership of Professor Muhammad Yunus has been the guiding force for Grameen's inception and expansion. But, over time, Grameen Bank has institutionalized a decentralized management structure with a cadre of dedicated professionals that is operating without much of his involvement. Moreover, subsidized funds and grants have been instrumental for its institutional development. However, through increased membership and lending, the Bank has reduced its subsidy dependency from 23 percent of subsidy per Taka lending in 1987 to 12 percent in 1993. Nearly 55 percent of its 1,039 branches are now operating with profits. It takes about five years of operation for a branch to realize a profit.

    Since economies of scale exist in branch operation, Grameen Bank has the potential to eliminate subsidies through expanding its membership and lending. But its expansion depends on the entrepreneurial ability of borrowers and market opportunities. The high loan recovery rate, the low dropout rate and the finding of a positive village-level wage effect suggest that the benefits from program participation are high and sustainable. But its continued support of traditional non-farm activities may not prove self- sustaining as Grameen Bank expands. The Bank must be able to expand lending in more growth-oriented activities for its survival in the long run.

    The group-based lending is replicable in other countries where the market failure requires credit to be targeted but the existing financial institutions cannot be used to deliver credit. The model is also desirable if financial intermediation requires social mobilization such as organization, and imperfect information and imperfect enforcement make lending highly risky and costly. In order to successfully replicate group- based lending for poverty alleviation, the poor may need organizational help and other inputs to improve their income and productivity. But providing such inputs are costly for an organization which may also need experimentation to determine the modus operandi of an appropriate delivery mechanism. However, the poor are not likely to be capable of bearing the full costs associated with program adaptation and implementation. Thus, successful replication depends on the availability of subsidized funds at the initial stage and above all, on the creativity and commitment of the leadership.

    Prepared by Shahidur R. Khandker, Education and Social Policy Department. Source: S. R. Khandker, B. Khalily and Z. Khan, 1993, "Grameen Bank: What Do We Know?" World Bank, Education and Social Policy Department, Washington, D.C. Return to the Grameen Bank Page

    Free Essays on Grameen Bank

    Free Essays on Grameen Bank

    To What Extent Can Microcredit Be Effective in the Alleviation of Poverty? The Case of The GrameenBank in Bangladesh. 1. Introduction Bangladesh is one of the poorest countries in the world. As many as 86% of people who live in rural areas in Bangladesh live under the poverty line (Rahman.

    Grameenbank is a micro credit bank . Prof. Dr. Yunus was the founder of Grameenbank . It was established in 1982. Most of the poor, landless and helpless are rightfully eligible to get loan from the GrameenBank . Before getting loans, they have to form groups of five or six each consisting 5 members.

    16 2012 http://www.fe-bd.com/index.php?ref=MjBfMDlfMTZfMTJfMV85Ml8xNDM1ODg= VOL 20 NO 157 REGD NO DA 1589 | Dhaka, Sunday, September 16 2012 GrameenBank . Interest of borrowers be safeguarded, Yunus' prestige protected Dr Yunus seems to have given more emphasis on social business than microcredit.

    GrameenBank . How Muhammad Yunus Inspires The World to Solve Poverty Written by Gatot Haryadi Introduction Poverty is number one of the world problem. United Nation set “End Poverty and Hunger” as number one in Millennium Development Goal that should achieve in 2015. GrameenBank is Bank that operates.

    earnings and repayment rates. 2. The biggest strength of GrameenBank lies in bringing financial services to poor people and making it financial sustainable by the economies of scale effect. Some of the other advantages are that the bank offers tailor-made services to the poor people. Also, the costumers.

    In order to overcome these challenges, the business model essentially needs to create the value chain as done by Map Agro and Waste Concern or GrameenBank and Telenor in Bangladesh. These network creation activities with local partners not only reduces the cost of providing the service, it also creates.

    RUNNING HEAD: BANK BAILOUT Bank Bailout Shu-Wei Wang Dallas Baptist University Bank Bailout The U.S. federal government just gave money to the banks . but did not require them to use the taxpayer-funded federal bailout money to start lending. Banks said they couldn’t track how that money was being.

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    through entrepreneurial measures and social entrepreneurship ventures, as a viable vision. Nobel laureate Muhammad Yunus's work on micro-finance and GrameenBank . Jeffrey Sachs's work on economic stabilization through aid and the UN Millennium Development Goals aimed at world-wide poverty reduction, and C.

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    dedicated to a predefined social cause. Since the profits are directed towards poor people, this profit is automatically serving a social cause. The GrameenBank . which has the poor people as its depositors and customers, is an example of this kind of social business. These were developed by Prof. Muhammad.

    we have chosen Faysal Bank clearing cheques service. Clearing is a process in which two banks are included i.e. collector bank and payee bank . Collector bank actually collects or receives the cheque of other banks given to their customers and on the other hand payee banks are those receives the.

    development of women. Scheduled commercial banks . Four nationalised banks -- Sonali, Janata, Rupali and Agrani Bank . two government owned agricultural banks -- Rajshahi Krishi Unnayan Bank and Bangladesh Krishi Bank . one specialised bank -- BASIC and one private sector bank -- IBBL which operates on Islamic principles.

    had exhausted all his personal resources. To ensure the long-term success of Milango, he now needed to look to an investor, local or international banks . or a process improvement program. While the past three years had been a huge success, Milango was headed toward the same path that had been followed.

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    reasons for the existence of banks Introduction Banks have traditionally played an important part in the financial system by acting as financial intermediaries. They brought together ultimate savers and borrowers. However, today banks do much more than just that. Banks have become financial services.

    Headquarters | GPHOUSE, Basundhara, Baridhara, Dhaka-1229. Bangladesh | | | Products | Telephony, EDGE, GSM | | | | | Parent | Telenor 55.8%, Grameen Telecom 34.2% & Public 10% | Website | www.grameenphone.com | (slogan ta dite hobe stay close) Grameenphone (Bengali: গ্রামীণফোন) (DSE:GP, CSE:GP).

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    CheckPoint: A Microfinance MIS Visit the Mifos Initiative Web site at www.mifos.org. The Mifos Initiative is a technology program sponsored by the Grameen Foundation to provide open source MIS software to microfinance institutions in developing countries. Follow the links for the software demo. Click.

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    government does with the public revenue that is generated by economic growth. Some statistics about China and India, drawn mainly from the World Bank and the United Nations, are relevant here. Life expectancy at birth in China is 73.5 years; in India it is 64.4 Dinodia/Stock Connection/Aurora Photos.

    businesses dealing with social objectives only. E.g. The product produced is for the benefit of the poor or targeted to solve a specific social problem. Grameen -Danone is an example of Type I social business. The Shokti Doi yogurt produced in the plant in Bogra, Bangladesh, is fortified with micronutrients.

    Iqbal Quadir, who is currently the founder and director of the Legatum Center for Development and Entrepreneurship at MIT. He was inspired by the GrameenBank micro credit model and envisioned a business model where a cell phone can serve as a source of income. After leaving his job as an investment banker.

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    venture between Telenor as (62%), a leading telecommunications company of Norway, and Grameen telecom (38%), a not-for-profit company in Bangladesh, working in close collaboration with the micro-credit pioneers GrameenBank and Professor Muhammad Yunus, the Nobel peace Price winners in 2006. Entrepreneur.

    rapidly increased in third world countries, such as Bangladesh, over recent decades. Muhammad Yunus, who started a lending organization called the GrameenBank . developed this program in the 1970s. There has been a great amount of success in reaching millions of borrowers, most of whom are women. The.

    technology related products will be considered as an export-oriented industry. The export-oriented industries, further to the provisions of Bangladesh Bank foreign exchange regulations, will be entitled to receive additional foreign exchange, on case to case basis, for publicity campaign, opening overseas.

    provide market-based solutions to social and environmental issues. Among the firms that deploy "social venture capital" are: Acumen Fund, Triodos Bank . Calvert Group, Gray Ghost Ventures, The New Economics Foundation, Social Venture Capital Fund, Venturesome Fund, Social Venture Partners, VenturEast.

    profit/net sales Microcredit originated in Bangladesh. 70s of last century, Muhammad Yuns in Bangladesh founded the GrameenBank of Bangladesh to test branches, after the test Grameen microcredit model become a new method and began taking shape. Yunus proposed reform of capitalism, the original capitalism.

    later on. If microloans are specifically given to the poor and meet cultural, economic, and legal environments, the poor can repay the loans. Some banks are specifically giving these types of loans to women. The benefit of targeting women for these loans promotes equal rights. Most of these women run.

    limited amount of money. These though tend to be erratic and somewhat insecure in nature. Traditionally, banks have not considered poor people to be a viable market. This is mainly because commercial banks must incur substantial costs to manage a client account, regardless of how small the sum involved is.

    Principles of Social Business The following principles of social business were developed by Prof. Muhammad Yunus and Hans Reitz, the co-founder of Grameen creative lab: * Business objective will be to overcome poverty, or one or more problems (such as education, health, technology access, and environment).

    GRAMEENBANK Poverty is not created by the poor people. So we shouldn't give them an accusing look. They are the victims. Poverty has been created by the economic and social system that we have designed for the world. It is the institutions that we have.

    and supervised by central banks . In contrast, semiformal institutions like NGO‐MFIs are regulated by either an apex organisation or other government body. Informal MFIs are not regulated but some are of sufficient size to become NGO‐MFIs or even banks . The formal MFI regulation.

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    loans and other financing-related services has been widely credited as a sustainable tool for reducing poverty. The microfinance movement, which the GrameenBank started and pioneered in Bangladesh during the 1980s, has been replicated in other parts of the world, including the Philippines. However, while.

    have taken three banks :- Two Private sector i.e. HDFC Bank and KOTAK MAHINDRA BANK and one public sector i.e. STATE BANK OF INDIA. The survey was conducted with the help of both primary data as well as secondary data. For collecting the primary data we visited all the three banks and get the questionnaire.

    overcome heartbreaking poverty. Against the advice of banks and government, Yunus carried on giving out 'micro-loans', and in 1983 formed the GrameenBank . meaning 'village bank ' founded on principles of trust and solidarity. In Bangladesh today, Grameen has 2,564 branches, with 19,800 staff serving 8.29.

    249) for US banks . “the hypothesis that characteristics attributed to successful entrepreneurs were more commonly ascribed to men than to women. On the dimensions of leadership, autonomy, risk taking, readiness for change, endurance, lack of emotionalism and low need for support, bank loan officers.

    Indian bank is dominant and why? The scenario of Indian banks in the overseas market can be seen as below, As on December 31, 2006, the statistics is as follows: Total No. Of overseas branches. 113 branches. No. Of Private sector banks . 3 nos No. Of Public sector banks .

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    of the 1980s, governments of almost every ideological stripe have embraced entrepreneurship. The European Union, the United Nations and the World Bank have also become evangelists. Indeed, the trend is now so well established that it has become the object of satire. Listen to me, says the leading character.

    across India to further the cause of education. The adult literacy software has been a significant factor in reducing illiteracy in remote communities. Banks and insurance companies are targeting migrant labourers and street vendors to help them through micro-credits and related schemes. The Indian corporate.

    their product online. Telecommunication Company – these companies such as Grameen Phone, Banglalink, Airtel, etc. use mobile marketing for promoting different products by sending SMS or directly call the customers. MTB, Brac Bank Ltd, etc – uses mobile marketing as well as digital marketing to introduce.

    Center’s Segments at a Glance Consumer Segment: Deals specifically with the problem of Smile, GP Public Phone, Village Phone (Primarily Solved by GrameenBank ), Xplore. Emerging Segment: Deals specifically with the problem of Bills Pay like electricity bill, gas bill etc. subscribers place complain at.

    operator in the country. It is a joint venture enterprise between Telenor and Grameen TelecomCorporation, a non-profit sister concern of the internationally acclaimed microfinance organization andcommunity development bankGrameenBank . Grameenphone was the first company to introduceGSM technology in Bangladesh.

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    on the effectiveness of the microcredit programs. 2.2.3. A successful model of the microcredit programs: The Grameenbank . 2.3. The effect of microcredit on poverty reduction and women empowerment………………. ………………………………………………. 14 2.3.1. The.

    MNCs have to develop a new business model tailored to the need and challenges of the poor (Prahalad and Hart, 2002). Moreover, SKS Microfinance and GrameenBank involved in social banking provide financial services through microfinance in order to help poverty alleviation in developing countries. This paper.

    5 Case Study 1 - ASOKA- The Innovators For the Public. 6 Case Study 2 - GrameenBank . 7 Youth Social Entrepreneurship. 8 International Presence. 9 Role.

    Case: Unexpected consequences of microcredit loans of the Grameenbank Since 1980 is the GrameenBank an example of an successful social enterprise. For many people its success proved that a social enterprise could make a heathty profit without subsidies and that the concept of a social enterprise.

    telecommunications service provider in Norway with mobile phone operations in 12 other countries, and Grameen Telecom Corporation (38%), a non-profit sister concern of the internationally acclaimed micro-credit pioneer GrameenBank . The company has so far invested more than BDT 10,700 crore (USD 1.6 billion).

    compiled by author Table 6: Micro-credit Programs of Specialized and Commercial Banks by number of Clients and recovery for the year 2005 Banks Clients Loan (in million Taka) Recovery rate % PKSF 573644 4992 99.6 Grameen 668389 14500 99 Sonali 407054 52318 78 Janata 736908 27240 90 Agrani 680565.

    practical knowledge about the Banking system in Pakistan. So to quench the thirst of practical exposure and for getting the basic knowledge about Bank I joined UNITED BANK LIMITED Branch Rabwah. During six week in UBL I gather all necessary information about UBL. Efforts have been made to compile this report.