Day 5: Financial Institutions

Day 5 has brought another round of negotiations among all stakeholders, with financial institutions being in high demand!

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The government representatives, including the President of Tanzania herself, came to speak with the commercial banks to challenge them about part taking in the eviction of Kurasini residents.

IMG_3059The World Bank and the African Development Bank, which together form the Global Bank, also participated in the heated discussion between the banks and the government. Above: the President of Tanzania holding the National Policy of Tanzania document and taking notes.

IMG_3058The micro-finance institutions and the Bill & Melinda Gates Foundation were also sought after in the open negotiations, with micro-finance institutions trying to convince other stakeholders that small, low-interest loans would be of great benefit to both Kurasini and Chamazi residents, and that going via them would yield more benefits to those in need than going via commercial banks.

The Foundation have been quite generous in offering grants and support, and so far they have agreed to disburse $250,000 to support the evicted residents and allow for ensuring affordable housing and basic needs to both Kurasini and Chamazi.

The second half of the afternoon, once the negotiations were done, included further reflections on the idea of Global Citizenship. The entire group, now out of character, was shown a list of notions which participants of last year’s programme came up with to define Global Citizenship.

word cloud (Y1)

The one they chose, which they felt was closest to them, was Interconnected With Power To Change (combining two from the word cloud they felt very strongly about). They discussed how interconnectedness, and all the networks people belong to, give them the power to make a change in the world, particularly in the context of globalisation. They defined globalisation as the process of international integration, but acknowledged that it is a highly contested concept. Another way they looked at globalisation was as a compression of space and time, a very interesting and imaginative way of approaching the subject.

Linking the discussion to their experience of the programme and their work as financial institutions so far, they stated: “[we believe that] financial institutions hold the overwhelming majority of power, allowing us to implement key changes in a global context. Even when we are a force for good, we are often still making decisions on behalf of the urban poor, drowning out the voices of the marginalised.”

 

 

 

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