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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 .
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Collective rural enterprises also could borrow from the Grameen Bank for investments in tube wells, rice and oil mills, and power looms and for leasing land for joint cultivation. [9] The average loan by the Grameen Bank in the mid-1980s was around Tk 2,000 (US$25), and the maximum was just Tk 18,000 (for construction of a tin-roof house). [9]
His local bank refused. He took the case clear up to the top bank in Dhaka, finally securing credit to loan to local borrowers. Thus, in January 1977, the Grameen Bank was born. This bank started under completely new principles, different than any other bank in Bangladesh at the time. Its premise was that each borrower had a human right to credit.
The Grameen Bank, which is generally considered the first modern microcredit institution, was founded in 1983 by Muhammad Yunus. [2] Yunus began the project in a small town called Jobra, using his own money to deliver small loans at low-interest rates to the rural poor. Grameen Bank was followed by organizations such as BRAC in 1972 and ASA in ...
Police say Wolfe was found dead from multiple gunshot wounds in an apartment in North Las Vegas, Nev., on Dec. 21, according to reports from the Las Vegas Review-Journal, KSNV and Fox 5.
The Grameen family of organizations has grown beyond Grameen Bank into a multi-faceted group of both commercial and non-profit ventures. It was first established by Muhammad Yunus, the Nobel Peace Prize-winning founder of Grameen Bank. Most of the organizations in the Grameen group have central offices at the Grameen Bank Complex in Mirpur ...
The body of an Indian journalist who had reported on alleged corruption in the country has been found in a septic tank in Chhattisgarh state. Mukesh Chandrakar, 32, went missing on New Year's Day ...