Returning to Bangladesh at the end of the Liberation War in 1971, Muhammad Yunus began providing loans to poor village artisans – stool-makers and basket-weavers – women who were trapped in a cycle of borrowing tiny sums of money for their raw materials in return for interest rates as high as 10% per week and agreement to sell their products back to the moneylenders at rock-bottom prices.
Today, his Grameen (‘village’ in Bengali) Bank serves 8 million borrowers in 80,000 villages. It lends $100 million per month with an average loan size of $200 and a repayment rate of 98%. Its market is the poorest of the poor.
"Let us create the world of our choice"
Pre-Meeting for Social Business Academia Conference 2017 Held at Mirpur, Dhaka https://t.co/gyOcYRiSa6— Muhammad Yunus (@Yunus_Centre) July 30, 2017
Leading practitioners and academicians from around the world speaking at #SBD2017 #SocialBusiness… https://t.co/7q23jn9b72— Muhammad Yunus (@Yunus_Centre) July 24, 2017
Host of the Social Business Day 2017 #SBD2017 #CanWealthConcentrationbeStopped #ThreeZeros #SBPedia #YunusCentre… https://t.co/9cN3YmL4nV— Muhammad Yunus (@Yunus_Centre) July 21, 2017