banker to the poor

Prof. Muhammad Yunus & Grameen Bank Awarded The Nobel Peace Prize for 2006.
This was in the news today, Nobel Peace Prize for that great man and his project. It got me quite curious, so I wanted to know a bit more about him and his vision.

http://www.grameen-info.org/

A Bank thinking about poor people? Well, that’s exactly what all of this is about. Poor people (specially Women) around the world are now benefiting of something called "microcredits". Microcredits were invented in the seventies and there are many types with different purposes or features. Grameen microcredits are small loans directed to the people who more need it. People who want to cross the Poverty barrier in their lives. Earn a living by themselves.
Grameen loan system is based on "trust". Yes, you read it right, just "trust", and at the moment there is a 98% rate of money paid back, highest than any other financial system (MBA gurús please take note of that...). Poverty is decreasing thanks to this initiative. In these days of lack of good and probably, too many evil hands acting unfairly in our modern economy. Yunus´s vision of making poverty history is fantastic and give us all hope. His personal involvement and actions to make it possible well deserve him a Nobel Price and all our respect.

thanks and smile!
dk

“If I could be useful to another human being, even for a day, that would be a great thing. It would be greater than all the big thoughts I could have at the university”
Muhammad Yunus

“By giving poor people the power to help themselves, Dr Yunus has offered them something far more valuable than a plate of food. He has offered them security in its most fundamental form”
Former US President Jimmy Carter