There will be two screenings of the film “The Micro Debt”, a critical investigation into the dark side of Microcredit. Please join the Clark community for a panel discussion with IDCE Professor Jude Fernando and the directors of the film, who will be joining us from Denmark. There are two showings with panels and discussion to follow:
- Thursday,
November 3rd, 7- 9 pm, Jefferson 218 - Friday,
November 4th, 10 am- 12 pm, Jefferson 218
A note from the director about the film:
For decades Microcredit has been hailed as the #1 solution to eradicate poverty. However, interest rates from 30 to 200 % makes it impossible for most poor loan takers in Mexico, India and Bangladesh to pay back their loans.The poor are under extreme social pressure from the other members of their groups – not to mention how cruel and rude some of the loan officers behave when it comes to defaulting a single weekly payment.
“The Micro Debt” also takes a closer look at the 2006 Nobel Peace Prize laureates, Grameen Bank and Mr. Muhammad Yunus. The film reveals a number of secret documents proving how Mr. Yunus back in the mid-90’s transferred 100 mio. USD – where most was donated as grants from Norway, Sweden, Germany, USA and Canada – to a new company in the Grameen-family in order to save tax in the future.