Since Muhammad Yunus founded Grameen Bank, it has made about 5.7 billion dollars in micro-credit loans to more than six million people in Bangladesh. The program has enabled millions of Bangladeshis, almost all women, to buy everything from cows to cell phones in order to start and run their own businesses. Yunus’ strategy has been the opposite of traditional banks. He would say: “If the banks lent to the rich, lent to the poor. If banks lent to men, I lent to women. If banks required collateral, my loans were collateral free. If banks required a lot of paperwork, my loans were illiterate friendly. if you had to go to the bank, my bank went to the village.”
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