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 is awarded 'Notre Dame Award for International Development and Solidarity'… https://t.co/gZjrvmtARb— Muhammad Yunus (@Yunus_Centre) April 16, 2018
Not for privatising govt. banks: Muhammad Yunus https://t.co/aJSwVgSxT7— Muhammad Yunus (@Yunus_Centre) April 9, 2018