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I'm sending you a link to this article as I think it will interest you ===== Lessons in moral responsibility from a world where the risks are greater I’m writing this month’s column while stranded by crosswinds at Ethiopia’s Gonder Airport. Think burning sunshine, blistering heat, and a free lunch collected from town by Ethiopian Airlines staff, determined to make our unplanned interlude more adventure than annoyance. It has to be said that Ethiopia is a country that lives by its rules. Our Fokker 50 is sitting on the concrete apron because the handbook says it’s not rated to take off until the crosswinds reduce. As several sick bags were filled on the bumpy descent (I boarded at Lalibela and am en-route to Addis) perhaps this is one scenario where following the rules is wise. Tourism is new to Ethiopia and some here say it’s not being taken seriously enough by the government. Perhaps the critics are expecting too much too soon. The new airport and 20km of sealed road that now makes the ancient rock hewn churches at Lalibela accessible to 60,000 tourists a year suggests otherwise. Investment in infrastructure is taking place. What’s more it’s delivering a growing economic return that will grow as the town’s people develop more spending opportunities for visitors. What I’m seeing here is forcing me to think again about the way we invest in infrastructure in the UK. The question I keep asking myself is this: is UK investment focused on what is created, or what that creation will achieve? Is it the feature or the benefit that drives those who make the decisions? Was the Millennium Dome built to stimulate sustainable economic opportunity in a run-down corner of London? Or were the politicians set on creating their own political legacy? They certainly managed that! It cost a lot more to build than Lalibela Airport and yet has delivered a lower return. So why I mused, do we describe Ethiopia as part of the ‘developing world’? Sure they have less here, but we seem to waste so much. I had a conversation with a fellow passenger, also enjoying this surprise stopover. She is director of a US organisation that provides micro-finance to women in countries recovering from war. It’s obvious when you think about it, but war widows with children have more incentive than most to become financially self-sufficient. Like so many single mothers in the UK, they also need to balance childcare with their work. Also, as in the UK, self-employment is arguably the best way to achieve both income and time flexibility. Micro-finance fascinates me. Not least because the lending is of necessity unsecured. A budding entrepreneur with an idea but no assets is shunned by all but the minority of lenders in the UK (The Prince’s Trust being a shining exception). Micro-finance works because the whole community takes a moral responsibility to ensure that the loan is repaid in time. If the borrower defaults, future loans to that community are less likely. It strengthens communities and encourages collaboration. Everyone wants to see each new venture succeed. Imagine if your neighbours took ownership of the success of a micro-financed farm shop. Would they flock to Tesco on Saturday morning with the same enthusiasm they do now? But of course you already knew that didn’t you? Micro-finance, in the form of the extraordinarily successful Grameen Bank, is what made its founder Nobel Prize winner Muhammad Yunus a household name in the social enterprise world. Compare his approach with that of our government, struggling to stimulate a flat economy with a loan guarantee scheme that has more strings attached than the entire cast of Thunderbirds! Naturally you can defend the status quo by saying Ethiopia is different. In many ways it is. After all, they have 13 months in every year and are virtually unique in never having been colonised or taken over. But my urge to you this month is to reflect on the reality of the differences of attitude to risk and investment between that country and ours. I think we could learn a lot from the ‘developing world’. Do you agree? http://www.newstartmag.co.uk/comment/article/lessons-in-moral-responsibility-from-a-world-where-the-risks-are-greater ===== (Please note that your email address has not been stored by New Start and so cannot be used for any other purpose than sending this email).