Essay On Grameen Bank

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INTRODUCTION
During the eighties, Grameen Bank becomes popular among policy makers. This institution, also referred as “the bank for the poor”, is a micro-lending program established in Bangladesh(Yunus, 2003). Their primary purpose is to foster entrepreneurship among the underserved population through providing loans at low or no interest rate with flexible payment plans(Bornstein, 1996). This initiative enables individuals to access capital access otherwise will not obtain it(Bornstein, 1996; Jain, 1996; Mallick, 2002; Yunus, 2003). Due to the success obtained, Authorities across the world implemented local versions in their home countries. Nevertheless, (Hulme, 1990) raised warnings about these implementations comparing the results of the original policy with their counterparts in Malesia, Sri Lanka and Malawi. The results were not as satisfactory as the original bank. The local implementation did not consider different demographics, religions attitudes, and government structure and policy implementation issues, explain in part the results.
The previous example illustrates what a policy transfer / mobility is. As a consequence of the technology advancement and globalization, people are expecting faster policy implementations. Due to …show more content…

In the past, the time span that a policy making process took was around a decade or so, leaving enough time for policy making to elaborate policies (Sabatier, 2007).However, with the advance in information and communication technology, now member of the society expects that anything can be achieved as fast as possible and almost instantaneous, analogous to a 24/7 concept. . The time – space compression (Harvey, 1989) suggest that because of the internalization process the relationship between space and time has been modified and affecting cultures and redefining what a place should be.(Massey, 1994)

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