How has microfinance changed the world?

The concept has been replicated dozens of times in other countries. In founding Grameen Bank, Yunus took his idea of microfinance and put it into action. That concept is changing the lives of millions by providing them access to the resources and capital they need to escape poverty and become financially independent.

Who was Muhammad Yunus?

Muhammad Yunus is called the pioneer of microcredit and the father of microfinance. He won the Nobel Prize in 2006. But his life started much more simply than his accomplishments would suggest. Born in Bangladesh, Yunus saw the realities of poverty in his community.

Why did Muhammad Yunus establish the Grameen Bank?

Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983, fueled by the belief that credit is a fundamental human right. His objective was to help poor people escape from poverty by providing loans on terms suitable to them and by teaching them a few sound financial principles so they could help themselves.