[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.85,0:00:03.98,Default,,0000,0000,0000,,We are witness to monumental\Nhuman progress.
Dialogue: 0,0:00:04.45,0:00:07.88,Default,,0000,0000,0000,,Over the past few decades,\Nthe expansion of the global marketplace
Dialogue: 0,0:00:07.91,0:00:12.69,Default,,0000,0000,0000,,has lifted a third of the world's\Npopulation out of extreme poverty.
Dialogue: 0,0:00:12.71,0:00:15.69,Default,,0000,0000,0000,,Yet we are also witness\Nto an astounding failure.
Dialogue: 0,0:00:16.22,0:00:17.99,Default,,0000,0000,0000,,Our efforts to lift people up
Dialogue: 0,0:00:18.01,0:00:21.47,Default,,0000,0000,0000,,have left behind those\Nin the harshest forms of poverty,
Dialogue: 0,0:00:21.50,0:00:23.02,Default,,0000,0000,0000,,the ultra-poor.
Dialogue: 0,0:00:23.04,0:00:27.16,Default,,0000,0000,0000,,What it means to be ultra-poor\Ngoes beyond the monetary definition
Dialogue: 0,0:00:27.19,0:00:29.04,Default,,0000,0000,0000,,that we're all familiar with:
Dialogue: 0,0:00:29.07,0:00:31.24,Default,,0000,0000,0000,,living on less than two dollars a day.
Dialogue: 0,0:00:31.62,0:00:34.85,Default,,0000,0000,0000,,It goes even beyond not having assets
Dialogue: 0,0:00:34.87,0:00:36.91,Default,,0000,0000,0000,,like livestock or land.
Dialogue: 0,0:00:36.93,0:00:41.00,Default,,0000,0000,0000,,To be ultra-poor means\Nto be stripped of your dignity,
Dialogue: 0,0:00:41.03,0:00:42.66,Default,,0000,0000,0000,,purpose and self-worth.
Dialogue: 0,0:00:43.11,0:00:45.08,Default,,0000,0000,0000,,It means living in isolation,
Dialogue: 0,0:00:45.11,0:00:47.43,Default,,0000,0000,0000,,because you're a burden\Nto your own community.
Dialogue: 0,0:00:48.00,0:00:51.32,Default,,0000,0000,0000,,It means being unable\Nto imagine a better future
Dialogue: 0,0:00:51.34,0:00:53.00,Default,,0000,0000,0000,,for yourself and your family.
Dialogue: 0,0:00:53.94,0:00:55.76,Default,,0000,0000,0000,,By the end of 2019,
Dialogue: 0,0:00:55.79,0:01:00.69,Default,,0000,0000,0000,,about 400 million people\Nwere living in ultra-poverty worldwide.
Dialogue: 0,0:01:00.72,0:01:05.32,Default,,0000,0000,0000,,That's more than the populations\Nof the United States and Canada combined.
Dialogue: 0,0:01:06.07,0:01:07.74,Default,,0000,0000,0000,,And when calamity strikes,
Dialogue: 0,0:01:07.77,0:01:12.30,Default,,0000,0000,0000,,whether it's a pandemic,\Na natural disaster or a manmade crisis,
Dialogue: 0,0:01:12.32,0:01:15.19,Default,,0000,0000,0000,,these numbers spike astronomically higher.
Dialogue: 0,0:01:16.04,0:01:19.81,Default,,0000,0000,0000,,My father, Fazle Abed,\Ngave up a corporate career
Dialogue: 0,0:01:19.84,0:01:23.72,Default,,0000,0000,0000,,to establish BRAC\Nhere in Bangladesh in 1972.
Dialogue: 0,0:01:23.74,0:01:25.57,Default,,0000,0000,0000,,Bangladesh was a wreck,
Dialogue: 0,0:01:25.60,0:01:28.52,Default,,0000,0000,0000,,having just gone through\Na devastating cyclone
Dialogue: 0,0:01:28.55,0:01:31.36,Default,,0000,0000,0000,,followed by a brutal war for independence.
Dialogue: 0,0:01:31.85,0:01:35.43,Default,,0000,0000,0000,,Working with the poorest of the poor,\Nmy father realized
Dialogue: 0,0:01:35.46,0:01:39.62,Default,,0000,0000,0000,,that poverty was more\Nthan the lack of income and assets.
Dialogue: 0,0:01:39.64,0:01:42.17,Default,,0000,0000,0000,,It was also a lack of hope.
Dialogue: 0,0:01:42.96,0:01:45.05,Default,,0000,0000,0000,,People were trapped in poverty,
Dialogue: 0,0:01:45.07,0:01:48.80,Default,,0000,0000,0000,,because they felt\Ntheir condition was immutable.
Dialogue: 0,0:01:48.82,0:01:51.83,Default,,0000,0000,0000,,Poverty, to them,\Nwas like the sun and the moon --
Dialogue: 0,0:01:51.85,0:01:54.18,Default,,0000,0000,0000,,something given to them by God.
Dialogue: 0,0:01:54.70,0:01:57.62,Default,,0000,0000,0000,,For poverty reduction programs to succeed,
Dialogue: 0,0:01:57.64,0:02:00.68,Default,,0000,0000,0000,,they would need to instill\Nhope and self-worth
Dialogue: 0,0:02:00.70,0:02:02.81,Default,,0000,0000,0000,,so that, with a little support,
Dialogue: 0,0:02:02.83,0:02:05.28,Default,,0000,0000,0000,,people could lift themselves\Nout of poverty.
Dialogue: 0,0:02:05.74,0:02:09.13,Default,,0000,0000,0000,,BRAC went on to pioneer\Nthe graduation approach,
Dialogue: 0,0:02:09.15,0:02:13.23,Default,,0000,0000,0000,,a solution to ultra-poverty\Nthat addresses both income poverty
Dialogue: 0,0:02:13.26,0:02:14.98,Default,,0000,0000,0000,,and the poverty of hope.
Dialogue: 0,0:02:15.49,0:02:17.88,Default,,0000,0000,0000,,The approach works primarily with women,
Dialogue: 0,0:02:17.91,0:02:21.14,Default,,0000,0000,0000,,because women are\Nthe most affected by ultra-poverty
Dialogue: 0,0:02:21.16,0:02:24.50,Default,,0000,0000,0000,,but also the ones most likely\Nto pull themselves and their families
Dialogue: 0,0:02:24.53,0:02:25.68,Default,,0000,0000,0000,,out of it.
Dialogue: 0,0:02:25.70,0:02:27.34,Default,,0000,0000,0000,,Over a two-year period,
Dialogue: 0,0:02:27.36,0:02:29.43,Default,,0000,0000,0000,,we essentially do four things.
Dialogue: 0,0:02:29.77,0:02:32.99,Default,,0000,0000,0000,,One, we meet a woman's basic needs
Dialogue: 0,0:02:33.01,0:02:35.51,Default,,0000,0000,0000,,by giving her food or cash,
Dialogue: 0,0:02:35.53,0:02:38.11,Default,,0000,0000,0000,,ensuring the minimum to survive.
Dialogue: 0,0:02:38.14,0:02:41.36,Default,,0000,0000,0000,,Two, we move her\Ntowards a decent livelihood
Dialogue: 0,0:02:41.39,0:02:44.27,Default,,0000,0000,0000,,by giving her an asset, like livestock,
Dialogue: 0,0:02:44.29,0:02:47.06,Default,,0000,0000,0000,,and training her to earn money from it.
Dialogue: 0,0:02:47.08,0:02:50.36,Default,,0000,0000,0000,,Three, we train her to save, budget
Dialogue: 0,0:02:50.38,0:02:52.25,Default,,0000,0000,0000,,and invest her new wealth.
Dialogue: 0,0:02:52.27,0:02:55.82,Default,,0000,0000,0000,,And four, we help\Nto integrate her socially,
Dialogue: 0,0:02:55.84,0:02:58.18,Default,,0000,0000,0000,,first into groups of women like her
Dialogue: 0,0:02:58.20,0:03:00.06,Default,,0000,0000,0000,,and then into her community.
Dialogue: 0,0:03:00.57,0:03:04.25,Default,,0000,0000,0000,,Each of these elements\Nis key to the success of the others,
Dialogue: 0,0:03:04.27,0:03:08.01,Default,,0000,0000,0000,,but the real magic is the hope\Nand sense of possibility
Dialogue: 0,0:03:08.03,0:03:11.60,Default,,0000,0000,0000,,the women develop through\Nthe close mentorship they receive.
Dialogue: 0,0:03:12.10,0:03:14.47,Default,,0000,0000,0000,,Let me tell you about Jorina.
Dialogue: 0,0:03:14.49,0:03:18.93,Default,,0000,0000,0000,,Jorina was born in a remote village\Nin northern Bangladesh.
Dialogue: 0,0:03:18.96,0:03:20.45,Default,,0000,0000,0000,,She never went to school,
Dialogue: 0,0:03:20.47,0:03:24.65,Default,,0000,0000,0000,,and at the age of 15,\Nshe was married off to an abusive husband.
Dialogue: 0,0:03:24.67,0:03:26.71,Default,,0000,0000,0000,,He eventually abandoned her,
Dialogue: 0,0:03:26.73,0:03:28.51,Default,,0000,0000,0000,,leaving her with no income
Dialogue: 0,0:03:28.54,0:03:33.05,Default,,0000,0000,0000,,and two children who were not in school\Nand were severely malnourished.
Dialogue: 0,0:03:33.07,0:03:35.34,Default,,0000,0000,0000,,With no one to turn to for help,
Dialogue: 0,0:03:35.36,0:03:36.83,Default,,0000,0000,0000,,she had no hope.
Dialogue: 0,0:03:37.37,0:03:41.53,Default,,0000,0000,0000,,Jorina joined BRAC's\NGraduation program in 2005.
Dialogue: 0,0:03:42.05,0:03:43.100,Default,,0000,0000,0000,,She received a dollar a week,
Dialogue: 0,0:03:44.02,0:03:45.18,Default,,0000,0000,0000,,two cows,
Dialogue: 0,0:03:45.21,0:03:46.76,Default,,0000,0000,0000,,enterprise training
Dialogue: 0,0:03:46.78,0:03:49.02,Default,,0000,0000,0000,,and a weekly visit from a mentor.
Dialogue: 0,0:03:49.50,0:03:51.46,Default,,0000,0000,0000,,She began to build her assets,
Dialogue: 0,0:03:51.49,0:03:53.18,Default,,0000,0000,0000,,but most importantly,
Dialogue: 0,0:03:53.21,0:03:57.10,Default,,0000,0000,0000,,she began to imagine a better future\Nfor herself and her children.
Dialogue: 0,0:03:57.61,0:04:00.46,Default,,0000,0000,0000,,If you were visit Jorina's village today,
Dialogue: 0,0:04:00.48,0:04:04.43,Default,,0000,0000,0000,,you would find that she runs\Nthe largest general store in her area.
Dialogue: 0,0:04:04.45,0:04:06.93,Default,,0000,0000,0000,,She will proudly show you\Nthe land she bought
Dialogue: 0,0:04:06.95,0:04:08.51,Default,,0000,0000,0000,,and the house she built.
Dialogue: 0,0:04:09.12,0:04:12.34,Default,,0000,0000,0000,,Since we began this program in 2002,
Dialogue: 0,0:04:12.37,0:04:14.28,Default,,0000,0000,0000,,two million Bangladeshi women
Dialogue: 0,0:04:14.30,0:04:18.16,Default,,0000,0000,0000,,have lifted themselves and their families\Nout of ultra-poverty.
Dialogue: 0,0:04:18.19,0:04:20.53,Default,,0000,0000,0000,,That's almost nine million people.
Dialogue: 0,0:04:21.03,0:04:24.62,Default,,0000,0000,0000,,The program, which costs\N500 dollars per household,
Dialogue: 0,0:04:24.65,0:04:26.36,Default,,0000,0000,0000,,runs for only two years,
Dialogue: 0,0:04:26.38,0:04:28.96,Default,,0000,0000,0000,,but the impact goes well beyond that.
Dialogue: 0,0:04:28.99,0:04:32.03,Default,,0000,0000,0000,,Researchers at the London\NSchool of Economics found
Dialogue: 0,0:04:32.06,0:04:34.91,Default,,0000,0000,0000,,that even seven years\Nafter entering the program,
Dialogue: 0,0:04:34.93,0:04:39.46,Default,,0000,0000,0000,,92 percent of participants\Nhad maintained or increased
Dialogue: 0,0:04:39.49,0:04:41.99,Default,,0000,0000,0000,,their income, assets and consumption.
Dialogue: 0,0:04:42.53,0:04:44.80,Default,,0000,0000,0000,,Esther Duflo and Abhijit Banerjee,
Dialogue: 0,0:04:44.82,0:04:48.24,Default,,0000,0000,0000,,the MIT economists who won\Nthe Nobel Prize last year,
Dialogue: 0,0:04:48.26,0:04:50.65,Default,,0000,0000,0000,,led multicountry evaluations
Dialogue: 0,0:04:50.67,0:04:54.59,Default,,0000,0000,0000,,that identified graduation\Nas one of the most effective ways
Dialogue: 0,0:04:54.62,0:04:56.37,Default,,0000,0000,0000,,to break the poverty trap.
Dialogue: 0,0:04:56.74,0:04:58.78,Default,,0000,0000,0000,,But my father wasn't content
Dialogue: 0,0:04:58.81,0:05:02.07,Default,,0000,0000,0000,,to have found a solution\Nthat worked for some people.
Dialogue: 0,0:05:02.09,0:05:05.62,Default,,0000,0000,0000,,He always wanted to know\Nwhether we were being ambitious enough
Dialogue: 0,0:05:05.64,0:05:07.01,Default,,0000,0000,0000,,in terms of scale.
Dialogue: 0,0:05:07.04,0:05:10.78,Default,,0000,0000,0000,,So when we achieved\Nnationwide scale in Bangladesh,
Dialogue: 0,0:05:10.80,0:05:13.90,Default,,0000,0000,0000,,he wanted to know\Nhow we could scale it globally.
Dialogue: 0,0:05:14.31,0:05:16.97,Default,,0000,0000,0000,,And that has to involve governments.
Dialogue: 0,0:05:16.99,0:05:19.78,Default,,0000,0000,0000,,Governments already dedicate\Nbillions of dollars
Dialogue: 0,0:05:19.80,0:05:22.25,Default,,0000,0000,0000,,on poverty reduction programs.
Dialogue: 0,0:05:22.28,0:05:24.83,Default,,0000,0000,0000,,But so much of that money is wasted,
Dialogue: 0,0:05:24.86,0:05:27.99,Default,,0000,0000,0000,,because these programs\Neither don't reach the poorest,
Dialogue: 0,0:05:28.02,0:05:32.47,Default,,0000,0000,0000,,and even the ones that do\Nfail to have significant long-term impact.
Dialogue: 0,0:05:33.08,0:05:35.74,Default,,0000,0000,0000,,We are working to engage governments
Dialogue: 0,0:05:35.76,0:05:40.20,Default,,0000,0000,0000,,to help them to adopt and scale\Ngraduation programs themselves,
Dialogue: 0,0:05:40.22,0:05:44.13,Default,,0000,0000,0000,,maximizing the impact\Nof the billions of dollars
Dialogue: 0,0:05:44.15,0:05:47.18,Default,,0000,0000,0000,,they already allocate\Nto fight ultra-poverty.
Dialogue: 0,0:05:47.90,0:05:51.86,Default,,0000,0000,0000,,Our plan is to help\Nanother 21 million people
Dialogue: 0,0:05:51.88,0:05:54.35,Default,,0000,0000,0000,,lift themselves out of ultra-poverty
Dialogue: 0,0:05:54.37,0:05:57.58,Default,,0000,0000,0000,,in eight countries over the next six years
Dialogue: 0,0:05:57.60,0:06:01.75,Default,,0000,0000,0000,,with BRAC teams on-site\Nand embedded in each country.
Dialogue: 0,0:06:02.41,0:06:07.81,Default,,0000,0000,0000,,In July of 2019, my father was diagnosed\Nwith terminal brain cancer
Dialogue: 0,0:06:07.84,0:06:09.72,Default,,0000,0000,0000,,and given four months to live.
Dialogue: 0,0:06:10.36,0:06:15.53,Default,,0000,0000,0000,,As he transitioned out of BRAC after\Nleading the organization for 47 years,
Dialogue: 0,0:06:15.56,0:06:18.53,Default,,0000,0000,0000,,he reminded us that throughout his life,
Dialogue: 0,0:06:18.55,0:06:21.81,Default,,0000,0000,0000,,he saw optimism triumph over despair,
Dialogue: 0,0:06:21.83,0:06:25.15,Default,,0000,0000,0000,,that when you light the spark\Nof self-belief in people,
Dialogue: 0,0:06:25.18,0:06:28.58,Default,,0000,0000,0000,,even the poorest\Ncan transform their lives.
Dialogue: 0,0:06:29.38,0:06:31.54,Default,,0000,0000,0000,,My father passed away in December.
Dialogue: 0,0:06:33.15,0:06:36.52,Default,,0000,0000,0000,,He lit that spark for millions of people,
Dialogue: 0,0:06:36.55,0:06:38.56,Default,,0000,0000,0000,,and in the final days of his life,
Dialogue: 0,0:06:38.58,0:06:43.35,Default,,0000,0000,0000,,he implored us to continue to do so\Nfor millions more.
Dialogue: 0,0:06:43.89,0:06:46.97,Default,,0000,0000,0000,,This opportunity is ours for the taking,
Dialogue: 0,0:06:46.100,0:06:50.47,Default,,0000,0000,0000,,so let's stop imagining\Na world without ultra-poverty
Dialogue: 0,0:06:50.49,0:06:53.32,Default,,0000,0000,0000,,and start building that world together.
Dialogue: 0,0:06:53.71,0:06:54.94,Default,,0000,0000,0000,,Thank you.