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"
Interviewed on stage by economist Mihir Sharma at the Jaipur Literature Festival (JLF) on 25th Januray, 2018. Watch… https://t.co/nTtYgl8OJf— Muhammad Yunus (@Yunus_Centre) February 15, 2018
Since 2010, @OneYoungWorld has been bringing together 9,000+ young leaders from around the world. Proud to celebr… https://t.co/VTcBFAUV79— Muhammad Yunus (@Yunus_Centre) February 8, 2018