Word: grameen
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Yunus, founder and managing director of Grameen Bank, stressed the role of business as a way to do good for others...
Yunus noted the villagers’ gratitude, and after facing resistance from bankers in Bangladesh who refused to loan money to the poor, Yunus decided to start Grameen Bank...
...Potential donors are worried that charity will be wasted or create dependence," says Jonathan Morduch, an economics professor at New York University. But the most influential microlenders--Yunus' Grameen Bank, FINCA, Acción International--are self-sustaining and profitable. They strip away the bureaucracy common to aid programs of governments and large foundations, and repayment rates of 97% are the norm...
Whatever its limitations, supporters of the microcredit sector say its power to help individuals is real. "Women who come out of poverty spend extra income on health care, housing or sending their children to school," says Gowher Rizvi, a former Ford Foundation exec who gave Grameen its first grant. "That's worthwhile if it's even one family." Back in Ecuador, Penafiel was able to pay back his Kiva.org loan five months later, and had a little left over to cover his six kids' school fees. It isn't quite the American Dream, but it's a start...
...Bangladesh, a young nation better known for its poverty, political violence and natural disasters, Yunus' Nobel award is a matter of national pride. Within minutes of the announcement, thousands gathered outside Yunus' house and Grameen's headquarters in the capital Dhaka. "No one came to us, no one asked us how we do things, no one was interested for years," says Mohamed Ansaruzzaman, head of Grameen's International Program Department. "Now they all want to see what we do-journalists, NGO workers, diplomats." Weeks on, posters of Yunus still dot Dhaka. Reads one big banner, outside a suburban pizzeria: PROFESSOR...