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Banker to the Poor

Banker to the Poor: Micro-Lending and the Battle Against World Poverty

by Muhammad Yunus, Nobel Peace Prize winner “Bangladesh, a country the size of Florida with a population of over 120 million people, is the home of Grameen Bank, the inspiration of economist Yunus, Bangladesh-born and U.S.-trained. Instead of spending his life as a university economics professor, Yunus decided in the mid-1970s to develop a micro-lending program to help the poorest people of his country. Yunus based the program on his strong belief that the very poor do not need complicated training programs to improve their economic lot. They need money, in the form of loans. This program has empowered thousands of people — many of them women — and surprised experts in economic development who never believed that the very poor would find the initiative and ability to repay even the smallest ($25-$500) loans. Grameen (‘of the village’) Bank has developed into an internationally acclaimed and replicated method for assisting the impoverished in Malaysia, the Philippines, Nepal, and even the United States.” —Library Journal

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