How Dr Muhammed Yunus’s Grameen Bank helped people come out of poverty

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Muhammed Yunus’s Grameen Bank lent money to poor entrepreneurs who do not qualify for normal bank loans

He was born on 28 June 1940. Muhammed Yunus is an economist, Bangladeshi banker and Nobel Prize recipient. He is a professor in Economics and he developed the concepts of microfinance and microcredit. Such loans are provided to all entrepreneurs who are too poor to qualify for normal bank loans. For example his institution would lend few thousand rupees for a lady in a village to buy cow so she can supplement her family income with the milk she can get from the cow.

Dr Muhammed Yunus
Garmeen Bank Borrowers/Beneficiaries

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