Today I heard a story that really demonstrated the value of learning and reflection. Indeed, it can be the difference between poverty reduction or not.
The organization I interviewed had been working with poor rural women to help them get micro-credit through a village bank. A student later did a study on the impact of village banks in improving food security of its beneficiaries. They discovered that women were not benefiting because of high monthly interest rates (10%). Based on the study results, learning and reflection, the organization was able to convince the bank to progressively reduce interest rates to 2%. Everyone involved was shocked as they thought they were helping to improve the women’s incomes when in fact they had not been benefiting at all.
Why am I sharing this? Most of us live busy lives, work long hours and don’t have time to reflect on what we are doing and what we have learned. Each day I am more convinced of the value of reflection. So… what did you learn today?