Mem­bers’ News

Thai-American Business (T-AB) Magazine - - Contents -

Agroup of stu­dents and teach­ers at NIST have started the NIST Mi­cro­cre­dit Bank ( NMB) to tackle the is­sue of poverty. Cre­ated as a stu­dent- run ser­vice group with the aim of sup­port­ing all mem­bers of the NIST com­mu­nity, the NMB of­fers debt re­lief, busi­ness loans and schol­ar­ships for the chil­dren of the school’s sup­port staff. 2016 is the fourth year that the NMB has pro­vided schol­ar­ships to chil­dren of sup­port staff, and also rep­re­sents the largest num­ber granted thus far: 33 in to­tal.

Based on the work of Mo­hammed Yu- nus, win­ner of a No­bel Peace Prize for his pi­o­neer­ing work in mi­cro­fi­nance, the NMB ini­tially fo­cused on pro­vid­ing small busi­ness loans with very lit­tle in­ter­est to sup­port staff at NIST who sought to open their own busi­nesses. This fo­cus grad­u­ally shifted to pro­vid­ing ed­u­ca­tion- based debt re­lief through schol­ar­ships for the chil­dren of those staff mem­bers, align­ing to NIST’S be­lief in the trans­for­ma­tive power of learn­ing, and con­tem­po­rary re­search in sus­tain­able eco­nomic and so­cial de­vel­op­ment through ed­u­ca­tion as op­posed to sim­ple phi­lan­thropy. Look­ing to the fu­ture, the mi­cro­cre­dit bank is con­tin­u­ally look­ing to im­prove and iden­tify ways to fur­ther en­gage staff, stu­dents and par­ents. In the mean­time they aim to en­rich the lives and liveli­hoods of all mem­bers of the NIST com­mu­nity through their unique work, which rep­re­sents a first among in­ter­na­tional schools in Thailand. Head of School James Mac­don­ald cap­tured this pas­sion best as he spoke to this year’s schol­ar­ship re­cip­i­ents: “Even though you may at­tend other schools, NIST is also your school, and you are an im­por­tant part of the com­mu­nity here”.

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