grameen bank
by Tim Willmott : Comments Off on grameen bank
The Grameen Bank was founded by Muhammed Yunus, creating an innovative lending mechanism known as micro-credit.
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:
Additional Info
- Town: Mirpur
- Zip/Postcode: 1216
- County/Province/Region/State: Dhaka
- Country: Bangladesh
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Article by Tim Willmott
Tim is the creator of sustainapedia.com and heads digital publisher Treading Lightly. His interests include nature and wild places, cooking, film, sport and music. He is a poet, writer and commentator.
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