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Grameen Bank (Bengali: গ্রামীণ ব্যাংক) is a microfinance, specialized community development bank founded in Bangladesh. [ 5 ] [ 6 ] It provides small loans (known as microcredit or "grameencredit") [ 7 ] to the impoverished without requiring collateral .
Yunus was the first Bangladeshi to ever get a Nobel Prize. He established Grameen Bank in 1983, which plays a significant role in poverty alleviation in various countries of the world including Bangladesh. In 2006, he and the Grameen Bank he founded jointly won the Nobel Peace Prize. [158]
Grameen Shakti (GS) is a renewable energy social enterprise established in 1996 to promote, develop and popularize renewable energy technologies in remote, rural areas of Bangladesh. [19] [20] It is a part of the Grameen family founded to take the Grameen Bank objective of alleviating poverty for the extreme poor through microcredit.
Yunus founded Grameen Bank in October 1983, and the bank has since lent over $37.5 billion to Bangladesh's poor at a recovery rate of 97%.
In 1983, Yunus founded Grameen Bank, which gives small loans to entrepreneurs who would not normally qualify for bank loans. The bank’s success in lifting people out of poverty led to similar ...
In 1983, Yunus founded Grameen Bank, which gives small loans to entrepreneurs who would not normally qualify for bank loans. The bank’s success in lifting people out of poverty led to similar ...
The modern use of the expression "microfinancing" has roots in the 1970s when Grameen Bank of Bangladesh, founded by microfinance pioneer Muhammad Yunus, was starting and shaping the modern industry of microfinancing. The approach of microfinance was institutionalized by Yunus in 1976, with the foundation of Grameen Bank in Bangladesh. [10]
Dr. Muhammad Yunus (born 1940) is the Chief Advisor of Bangladesh, and also is a Bangladeshi economist and founder of the Grameen Bank, and a Nobel Peace Prize laureate. Mohammad Younus (or variants such as Mohammad, Mohammed, Muhammad and Yunus, Younis) may refer to: Mohammad Yunus (diplomat) (1916–2001), Indian ambassador