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"
Nobel Laureate Professor Muhammad Yunus and the Director General of the FAO José Graziano da Silva delivering to Gr… https://t.co/Eck9duQX6E— Muhammad Yunus (@Yunus_Centre) September 24, 2018
'Social business cities' could ease urban growing pains. https://t.co/jBDopx7qIX— Muhammad Yunus (@Yunus_Centre) September 23, 2018