The Green Children are proud to be working with Professor Muhammad Yunus, the father of microcredit and founder of The Grameen Bank. They have supported a new hospital in Bangladesh in collaboration with Prof. Yunus and Grameen Healthcare Trust.
Professor Yunus discovered that a small amount of money could dramatically change the direction of somebody's life. Giving a poor person 'credit' was a simple but revolutionary idea.
Grameen Bank is owned by the seven million poor borrowers it currently serves, 97 percent of whom are women. It does not require any collateral against its micro–loans, and repayment responsibility rests solely on each individual borrower. The bank has a loan recovery rate of almost 99 percent.
Grameen Bank offers creative and innovative loans programs, at reasonable interest rates. In its Struggling Members Program that reaches out to beggars, loans are interest–free. Grameen's housing loan program, which financed 13,668 homes in the last year, received the Aga Khan International Award for Architecture. Micro–enterprise loans encourage small businesses and entrepreneurship. Scholarships are given to high–performing children of Grameen borrowers, with priority given to girls.
In recognizing the extraordinary ability and potential of the poor, Grameen Bank has created a solution that breaks the potential limitations of outright charity.
The Grameen network of companies, encouraged by the bank but in which it holds no ownership, include more than two dozen organizations in the telecom, IT, textile, and other job–creating sectors in Bangladesh.
The Green Children Foundation recognizes Professor Yunus, the founder of the Grameen Bank and its Managing Director, as a man of extraordinary vision and inspiration whose leadership has served as a catalyst to fighting poverty around the world.
The Story of Grameen – The Village Bank for Poor People
The Grameen Bank was born in the village of Jobra, Bangladesh. In 1976 a study by Professor Muhammad Yunus, head of the Rural Economics Program at the University of Chittagong in Bangladesh, identified microcredit as an effective way of extending very small loans to the rural poor.Professor Yunus discovered that a small amount of money could dramatically change the direction of somebody's life. Giving a poor person 'credit' was a simple but revolutionary idea.
Grameen Bank is owned by the seven million poor borrowers it currently serves, 97 percent of whom are women. It does not require any collateral against its micro–loans, and repayment responsibility rests solely on each individual borrower. The bank has a loan recovery rate of almost 99 percent.
Grameen Bank offers creative and innovative loans programs, at reasonable interest rates. In its Struggling Members Program that reaches out to beggars, loans are interest–free. Grameen's housing loan program, which financed 13,668 homes in the last year, received the Aga Khan International Award for Architecture. Micro–enterprise loans encourage small businesses and entrepreneurship. Scholarships are given to high–performing children of Grameen borrowers, with priority given to girls.
In recognizing the extraordinary ability and potential of the poor, Grameen Bank has created a solution that breaks the potential limitations of outright charity.
The Grameen network of companies, encouraged by the bank but in which it holds no ownership, include more than two dozen organizations in the telecom, IT, textile, and other job–creating sectors in Bangladesh.
The Green Children Foundation recognizes Professor Yunus, the founder of the Grameen Bank and its Managing Director, as a man of extraordinary vision and inspiration whose leadership has served as a catalyst to fighting poverty around the world.
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