Word: grameen
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...Bangladeshi economist Muhammad Yunus began making tiny loans to the rural poor. The success of his charity led him to found Grameen Bank, pioneering microcredit. Yunus spoke to TIME's Ishaan Tharoor last week, moments before learning he and Grameen had won the 2006 Nobel Peace Prize...
...Grameen Bank members are women. Why is that...
...opposition on many fronts. Of course, the first opposition came from the husbands, who thought we were insulting them. The second were the mullahs, who started preaching that taking money from the Grameen Bank was against religion and that they should leave it to their husbands. Some even scolded the women for being so gullible to listen to us and claimed that we were Christian missionaries! We told them that in Islamic history women had been warriors and businessmen - look at the Prophet's first wife! There was also political opposition: the radical Left campaigned against us because they thought...
...What singular achievement do you take most pride in when looking back at three decades of the Grameen Bank...
...absolutely: 58% of the poor who borrowed from Grameen are now out of poverty. 2005 was declared the Year of Microcredit and there are over 100 million people now involved with microcredit (programs). At the rate we're heading, we'll halve total poverty by 2015. We'll create a poverty museum...