Skip to Content

Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2730

Monthly archive

Report documents the disastrous plight of Canada’s welfare recipients

A recent report from the National Council of Welfare, an advisory board to the federal Minister of Human Resources and Social Development, paints a very somber picture of the conditions in which welfare recipients in Canada are forced to live. Invariably, those receiving welfare or "last resort" benefits have incomes far below the poverty line. Moreover, the real dollar value of the benefits paid welfare recipients has been rapidly shrinking over both the short and long term.

Yunus 'banker of the poor' and Grameen Bank bags the Nobel Peace Prize for 2006

Muhammad YunusThe Nobel Peace Prize for 2006 has been awarded to Muhammad Yunus of Bangladesh and the Grameen Bank which offers loans to poor people without any financial security. Prof. Yunus, dubbed "Banker to the Poor," began fighting poverty during a 1974 famine in Bangladesh with a loan of 27 dollars to some villagers to save them from the clutches of the moneylenders. The economics professor is now seen as one of the main developers of the concept of "microcredit," which gives entrepreneurs who are too poor to qualify for traditional bank loans very small sums to start up their own enterprises. The Grameen Bank has now 6.5 million borrowers of which 96 percent are women. According to the Grameen website, the bank has 2,226 branches in 71,371 villages. "Grameen" means "village" or "of the village."