OPEN LETTER TO PROF YUNUS

Santiago de Chile, March 13th 2011

Dear Prof. Yunus:

It has certainly been a long time since I wrote that article about you and was published in a financial newspaper here in Chile in 1998, which fortunately caught the attention of important people and prompted them to support your work here in Chile. A lot has been accomplished over these years, due in part to the extensive promotional efforts that took place and a lot of people have been involved, contacting, networking, seminars, lectures to students and authorities, your teachings, experiences, just to mention a few of the initiatives. Now in retrospect, and after all that took place, I admit that you were always right; about those mega projects do not help the poor directly, of course, they help society as a whole, but they don’t help the need ones. During one of our conversations, you assured me that even if it looked impossible to do such good will, it was possible. Today we have the proof. Our experience in Chile with your revolutionary ideas has allowed providing more than thousands micro-credits to need people. Incredible! Foundations also have extended micro-credits throughout the country and in Jimena Lopez de Lerida`s paper (2006), she states that micro-credits have reached approximately up to more 124.000 people. She also mentions that among the institutions that have replicated your work are several banks among others, we should all feel proud for all you have done and efforts and frustrations. But this is not enough, there is a lot more to be done, and we have to continue, we still have to reach 3 million micro-credits in order to eradicate poverty in Chile, and much more in the world, so we have long way to go; I know that in one way or another, many people will be summoned to your cause bringing to put an end to poverty, and I certainly I and many other will continue to help you in your efforts. I regret Bangladesh authorities’ decision. And I am certain it will affect millions of people. But I am also sure that you will not surrender easily.

My warmest regards to you and your loved ones, wishing not to lose contact and always express my highest admiration,

Bernardo Javalquinto

Economist, University of Maryland

Rancagua- Region de O'Higgins

Chile