In 1976, a young Bangladeshi economics professor named Muhammad Yunus founded Grameen Bank to implement microcredit — lending small sums to the very poorest members of society. Today, he and his bank share the Nobel Peace prize. Grameen, a profit-making company with social objectives, has lent $5.3bn to 6.4m people. 97% of borrowers are women, as Yunus believes [video] "men will do whatever they could to enjoy for themselves personally [but] women looked at it for the children, for the family and for the future."
posted by matthewr on Oct 13, 2006 - 24 comments

Turning Bangladesh's Beggars Into Businessmen. One of Bangladesh's leading micro-credit groups has launched an initiative to lend money to beggars at easy repayment rates, to wean them off the streets and into small scale ventures.
posted by tranquileye on Mar 30, 2004 - 10 comments

What could you do with $27? - Microcredit or microfinance provides working capital through small loans to the working poor. Read some of the wonderful accounts of people who built thriving businesses and new lives with from a jumpstart of as little as a $100 loan. Read the remarkable story of the Grameen Bank, and learn about Village Banking, and other inspiring efforts to bring dignity and help to the more than 1.2 billion people who live on less than one dollar a day. - more -
posted by madamjujujive on Jun 8, 2003 - 10 comments