A Legacy of Microfinance and Poverty Alleviation Celebrated
Miad Hossain
The third edition of Small Loans Big Dream, a landmark book by Alex Counts, was officially launched in Dhaka, drawing prominent figures and development enthusiasts to Bookworm bookstore in Gulshan. This new edition continues to share Counts’ insights and reflections on microfinance, the challenges and victories of poverty alleviation, and the path to empowering underserved communities globally.
Alex Counts, founder of the Grameen Foundation, established the organization in 1997 after receiving a $6,000 grant from his mentor, Nobel Laureate Professor Muhammad Yunus. Counts' journey in microfinance began a decade earlier in Bangladesh as a Fulbright Scholar, where he witnessed first-hand the life-changing impact of microfinance models created by Grameen Bank. Under Yunus’s guidance, Counts deepened his commitment to poverty alleviation, eventually leading him to create the Grameen Foundation. Today, the foundation stands as an influential humanitarian organization, extending Grameen’s vision to communities worldwide.
In Small Loans Big Dream, Counts delves into his early days in Bangladesh, the establishment of the Grameen Foundation, and the organization’s expansion across continents. This third edition, with updated content, explores emerging challenges in microfinance and highlights success stories, demonstrating how small loans continue to spark big changes for marginalized people. "The vision of Grameen was always global," Counts shared at the event, "and through this book, I hope readers can see the journey, the lessons, and the endless possibilities of financial empowerment."
The launch event was hosted by Bookworm, Dhaka's leading English-language bookstore. Established in 1994, Bookworm has long been a beloved hub for readers in Dhaka and across Bangladesh. Known for its wide-ranging collection, the bookstore also serves as the official bookstore for the Dhaka Lit Fest, amplifying its influence in the country’s literary community. Bookworm’s Founder Farhan Quddus and Managing Director Amina Rahman attended the event, along with other notable figures such as Md. Shakhawat Hossain, CEO of Unique Hotels & Resorts Plc, and several supporters of Counts’ work.
Counts’ other works, including his memoir Changing the World Without Losing Your Mind, have further contributed to discussions on sustainable development. His writings have appeared in major publications like The Washington Post, Stanford Social Innovation Review, and The Miami Herald, and he has received prestigious awards, including the John F. Kennedy Memorial Award during his time at Cornell University.
In a gathering that celebrated both his legacy and the potential of microfinance, guests engaged in discussions on how financial inclusion can combat poverty and create resilient economies. The event marked yet another milestone for Counts and underscored the continuing relevance of microfinance in today’s world.
