Hi Kyaw. You make a good point about adapting solutions to local circumstances. The work of Generation Enterprise could serve as an interesting model (http://www.generationenterprise.org/). They recruit local entrepreneurs to start small businesses in Lagos, Nigeria and Delhi, India. Candidates undergo a rigorous screening process, and once selected they receive training, support, and funding to get their businesses going. They then work with Generation Enterprise to eventually take full ownership of the small business. It could be interesting to think about how this model could be transposed to serve a rural setting like Pravesh's. I will keep thinking!
Thanks for your feedback, Eliza. I also think that Echale a tu casa is doing phenomenal work. I don't know about applications for this model in other countries, but I am certainly curious. I'll be sure to post anything that I come up with. Thanks again!
Thank you for this well constructed presentation of Pravesh's case, Kyaw. I posted last week about Echale a tu casa, an organisation in Mexico that helps families in need build their own homes (https://openideo.com/challenge/financial-empowerment-challenge/research/echale-a-tu-casa). They meet bank requirements for loans and mortgages through a community-based financing model in which families pool their savings in a common fund that acts as a guarantee against loans. This is coupled with financial education for community members. I don't know anything about Indian finance regulation, but I wonder if there are similar possibilities there for people like Pravesh. I also thought of the Bangladesh Youth Leadership Center (http://www.bylc.org/), an organisation that equips young Bangladeshis with leadership skills via intensive training programs centered around community service and modeled after Harvard University's leadership courses. Apart from his not holding Bangladeshi nationality, Pravesh sounds like an ideal candidate. A similar program in India might help to give him the skills and credibility to move forward with his ideas.