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"
Beautiful article on longtime Grameen friend titled: "Sam Daley-Harris' decades of work for civic change embodies… https://t.co/Ys1Qze5PiF— Muhammad Yunus (@Yunus_Centre) May 22, 2018
#SBD2018 is coming to India for the first time on June 28-29 in Bengaluru. Take the opportunity to learn from socia… https://t.co/eLeW7gt65m— Muhammad Yunus (@Yunus_Centre) May 20, 2018
IOC President Welcomes Professor Yunus at Lausanne https://t.co/XS4FhKUmNl @iocmedia #ioc #worldofthreezeros… https://t.co/IVzXzKobVU— Muhammad Yunus (@Yunus_Centre) May 20, 2018