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So now we’re Bangladesh? Women’s Micro-Finance comes to the ACT

By johnboy - 15 June 2009 26

Katy Gallagher has an endless capacity to surprise.

This morning she’s announced that the ACT is getting an “ACT Women’s Micro-credit Program” in the style of the Grameen Bank.

    “The program here in Canberra will provide opportunities for local women on low incomes to increase their economic independence and reduce social security dependency.”

    Ms Gallagher said the ACT Government would begin working in partnership with community organisations later this year to disperse the loans.

Now don’t get me wrong, my heart is as warmed by third world micro-finance programs as anyone. Heck I’ve loaned money in the Kiva program myself.

But I do wonder if our banking system is so broken, and our women so discriminated against in the ACT that we need something like this here? Or is this just proof that the Labor Government has finally reduced us to third world status?

(I also note that the micro-finance schemes operated to wild applause around the world are not Government operated.)

What’s Your opinion?


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26 Responses to
So now we’re Bangladesh? Women’s Micro-Finance comes to the ACT
Pommy bastard 2:01 pm 15 Jun 09

Sounds like a load of old hippy bollocks to me.

Igglepiggle 1:59 pm 15 Jun 09

wasn’t it the NINJA loans (no income, no job) that got us into this global financial pickle to start with? More credit sure does sound like a good idea then…

S4anta 1:27 pm 15 Jun 09

housebound said :

This IS government, don’t forgt. You couldn’t do it without a 20 page application form.

Good. The last thing we need is a bunch of nufty’s flogging three grand a pop to every witch redneck and nut bag that comes a running.

housebound 1:19 pm 15 Jun 09

This IS government, don’t forgt. You couldn’t do it without a 20 page application form.

sepi 1:06 pm 15 Jun 09

I’d say you would need statistics showing that transgender and overly sensitive male populations of Canberra are underrepresented in business and finance, and then a specific loans program may be set up for those target groups.

S4anta 12:58 pm 15 Jun 09

Before we do start poo pooing this idea, I think it might be prudent to wait and see what partnerships are formed with community organisations and a few other details.

To me it sounds like a grants style program being administered and reported to/from by a bunch of community organisatiosn alot lcoser to the coal face than the Govt. In the absence of no detailson merit, i would say to let this pilot program run, and see what comes from it.

There may finally be variety in the handicrafts available at the Bus Depot markets for once.

Postalgeek 12:54 pm 15 Jun 09

So do transgender applicants have a chance? And what about men with an overly sensitive side to their personality?

amarooresident2 12:38 pm 15 Jun 09

hax said :

More discrimination..

How so?

nathan 12:32 pm 15 Jun 09

Good on Katy for immediately providing evidence that we do, in fact, require the power of veto over the Legislative Assembly vested in the federal Government.

PM 12:31 pm 15 Jun 09

I’ve long admired the Grameen Bank, and once enjoyed listening to its founder speak, but this policy is way off track.

Any programme needs to be tailored to its audience. In the ACT, the programme shouldn’t be based on sex – the Treasurer being a woman is hardly evidence of women being disadvantaged in the money/economics side of things (unless she’s trying to hint at something, but I’m personally sure it’s nothing to do with her sex).

hax 12:11 pm 15 Jun 09

More discrimination..

Ian 12:10 pm 15 Jun 09

“The idea of offering small loans to individuals or very small business enterprises to assist in the creation or expansion of micro-enterprises originated in India in 1976 through the Grameen Bank,” Ms Gallagher said.

Good to see Katy’s advisors have done their research on Grameen Bank properly. Last time I looked, Chittagong was in Bangladesh which is not part of India.

Inappropriate 12:00 pm 15 Jun 09

I wonder what the eligibility and assessment criteria are.

poptop 11:57 am 15 Jun 09

Clearly the economic environment is perfect to be starting your own micro-business right now.

VYBerlinaV8_the_one_ 11:33 am 15 Jun 09

If you can’t get a credit card, even in this environment, you should NOT be borrowing money anyway.

How does lending people money reduce their social security dependency anyway? I suspect your average dole recipient isn’t so worried about how competitive their margin loan rate is anyway…

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