Word: grameen
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...think it is ethical to charge the poor interest and make a profit out of it? -Hasan Iqbal, Sundsvall, Sweden In Bangladesh, Grameen Bank charges the lowest rate among all microcredit programs, and yes, we make a profit. But Grameen Bank is owned by the borrowers, so when we make a profit it goes back to the borrowers as dividends...
...Have you ever found an incident of corruption involving a Grameen Bank loan? Rudi Toruan, Samarinda, Indonesia We have cases of corruption, but Grameen Bank now has 28,000 staff, 8 million borrowers and 2,600 branches. We lend out over $100 million each month and have a similar amount coming back each month, handling this physically in the villages. It's very easy to put money in your pocket. But the amazing thing is that cases of corruption are so rare...
...impressive--then grab an EpiPen before reading any further. For we are about to discuss Amadou and Mariam, the world-music stars who are not just a married, middle-aged couple from Mali but a blind, married, middle-aged couple from Mali. By description, they're worthier than the Grameen Bank...
...York City and sells empanadas and coconut sweets. Her vending cart used to be wooden, but then she upgraded to metal. Not by way of a loan, though. Familia slowly saved profits and bought a new cart once she had amassed $7,000. What she spent her Grameen loan on is much less flashy: ingredients and cart repairs...
That's not to say the money isn't helpful. But according to Familia, one of the main things she gets from Grameen is something else: "their interest is in developing women workers," she says through a translator. "Women share their ideas and help each other...