by Tim Willmott : Be the first to leave a comment
By offering small, uninsured loans to self-employed women in Bangladesh, the Grameen Bank was able to lift hundreds of thousands from below the poverty line. By using a loan to buy a goat for example, a poverty-stricken family is given the chance to start a sustainable business in selling milk and milk products.
Yunus aimed to make his system available to 100 million of the world’s poorest families and believes that it can help to eradicate the global problem of poverty. Over 200 micro-credit schemes are now operating across the US and the concept has been adopted around the world.
Other international NGOs involved in microfinance and poverty alleviation include:
- Town: Mirpur
- Zip/Postcode: 1216
- County/Province/Region/State: Dhaka
- Country: Bangladesh