Banker to the Poor - Softcover

Softcover

ISBN 10: 1458780287 ISBN 13: 9781458780287

Synopsis

n 1983 Muhammad Yunus established Grameen, a bank devoted to providing the poorest of Bangladesh with miscule loans. He aimed to help the poor by supporting the spark of personal initiative and enterprise by which they could lift themselves out of poverty forever. It was an idea born on a day in 1976 when he loaned $27 from his own pocket to forty-two people living in a tiny village. They were stool makers who only needed enough credit to purchase the raw materials for their trade. Yunus's loan helped them break the cycle of poverty and changed their lives forever. His solution to world poverty, founded on the belief that credit is a fundamental human right, is brilliantly simple: loan poor people money on terms that are suitable to them, teach them a few sound financial principles, and they will help themselves.Yunus's theories work. Grameen Bank has provided 3.8 billion dollars to 2.4 million families in rural Bangladesh. Today, more than 250 institutions in nearly 100 countries operate micro-credit programs based on the Grameen methodology, placing Grameen at the forefront of a burgeoning world movement toward eradicating poverty through micro-lending

About this title

Review:

"İYunus's ideas have already had a great impact on the Third World, and hearing his appeal for a poverty-free world from the source itself can be as stirring as that all-American myth of bootstrap success."

About the Author:

Muhammad Yunus in 1972 became the head of the economics department at Chittagong University. He is the founder and managing director of the Grameen Bank.

About this edition

• ISBN 10: 1458780287
• ISBN 13: 9781458780287
• Binding: Paperback