Poverty
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Poverty is widespread in Bangladesh, with up to 26% of the population living below the national poverty line. Microfinance provides financial services to those without access to traditional banking, through small loans without security requirements. Muhammad Yunus founded Grameen Bank in 1976 to provide microloans to the rural poor of Bangladesh, especially women. Grameen Bank allows borrowers to start small businesses, breaking the cycle of poverty - a 2008 internal survey found 65% of borrowers had risen above the poverty line.
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Muhammad Yunus is a Bangladeshi economist who founded Grameen Bank to provide microloans to the poor, pioneering microfinance. He received the Nobel Peace Prize for this work.
Microloans are small loans up to $50,000 for individuals and businesses. They help launch and grow small businesses to create jobs and strengthen local economies.
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MICROFINANCE CHANNELS IN INDIA Vinodprakash Shukla
油
Microfinance refers to small-scale financial services like credit and deposits provided to low-income individuals who lack access to traditional banking services. It aims to help the poor become self-sufficient through saving, borrowing, and insurance. While banks are reluctant to serve those with little income or collateral, microfinance fills this gap by providing small, collateral-free loans. In many developing countries, over 75% of the population lacks access to financial services apart from money lenders who charge high interest rates. Microfinance helps the poor by increasing incomes, allowing them to better manage cash flows and risks through access to credit. It also supports micro-enterprises and women's empowerment. Common microfinance models include self-help groups, creditMuhammad Yunus
Muhammad YunusPatrick Caparoso
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Muhammad Yunus saw a need to provide loans to poor people in Bangladesh and started small experiments lending money that was repaid. This grew into the Grameen Bank in 1983, which pioneered microloans between $27-500 that allowed the poor to start businesses and pull themselves out of poverty. By 2008, Grameen Bank had loaned over $6 billion to 7.5 million borrowers, mostly women. Based on its success, over 250 other organizations in 100 countries now operate microlending programs based on Grameen Bank's model. Yunus and Grameen Bank won the Nobel Peace Prize in 2006 for their work in creating economic and social development through microfinance.Citizenship 2: Stop Poverty
Citizenship 2: Stop PovertyWinstonliu1388
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This document discusses poverty around the world and efforts to reduce it. It notes that over half the world lives on less than $2.50 a day, and 1 billion children live in poverty lacking adequate shelter or food. Professor Muhammad Yunus created microloans through Grameen Bank that have helped many escape poverty by starting small businesses. Grameen Bank loans have a 97% repayment rate and now operate in 58 countries. The document encourages efforts like donating to charities, volunteering, and educating others to help reduce global poverty.Social entrepreneur
Social entrepreneurKhant Oo Maung
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Muhammad Yunus is a Bangladeshi banker and economist who pioneered microcredit and microfinance. In 1976, he provided small loans totaling $27 to 42 bamboo workers in Bangladesh, enabling them to become self-employed entrepreneurs. This led Yunus to found Grameen Bank in 1983, which provides small, low-interest loans primarily to impoverished women without requiring collateral. Today, over 97% of Grameen Bank's 7.5 million borrowers are women, helping to lift them out of poverty through self-employment. Yunus' pioneering work in microcredit and microfinance earned him the 2006 Nobel Peace Prize.Social entrepreneur
Social entrepreneurKhant Oo Maung
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Muhammad Yunus is a Bangladeshi banker and economist who pioneered microcredit and microfinance. In 1976, he provided small loans totaling $27 to 42 bamboo workers in Bangladesh, enabling them to become self-employed entrepreneurs. This led Yunus to found Grameen Bank in 1983, which provides small, low-interest loans primarily to impoverished women without requiring collateral. Today, over 97% of Grameen Bank's 7.5 million borrowers are women, helping to lift them out of poverty through self-employment. Yunus' pioneering work in microcredit and microfinance earned him the 2006 Nobel Peace Prize.Social entrepreneur
Social entrepreneurKhant Oo Maung
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Muhammad Yunus is a Bangladeshi banker and economist who pioneered microcredit and microfinance. In 1976, he made small loans to 42 women in a Bangladeshi village from his own pocket, enabling them to start businesses. This led him to found Grameen Bank, which lends primarily to impoverished women and has grown to over 7 million borrowers, 97% of whom are women. Yunus developed microcredit and microfinance concepts to help the poor gain access to banking and lift themselves out of poverty through self-employment and entrepreneurship.Eco ppt on micro finance
Eco ppt on micro finance79850
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Microfinance refers to small-scale financial services like credit and deposits provided to low-income individuals who lack access to traditional banking services. It aims to help the poor become self-sufficient through saving, borrowing, and insurance. Traditional banks are reluctant to serve the poor due to high costs and lack of collateral. As a result, the poor rely on expensive moneylenders. Microfinance helps address this need by providing affordable credit that supports small businesses and empowers women. It has been successful in reducing poverty in countries like Bangladesh and India through high repayment rates of over 95% in many areas. While it benefits the moderately poor more than the destitute, microfinance overall has proven effective in poverty alleviation when designedGrameen banking
Grameen bankingRakesh Krishnan
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Grameen Banking provides small, collateral-free loans known as microcredit to impoverished individuals, especially women, in rural Bangladesh. The bank was founded in 1976 by Muhammad Yunus and transformed into an independent bank in 1983. It utilizes group lending and peer pressure through "joint liability groups" to achieve repayment rates over 99%. The bank has made over $4.7 billion in loans, inspiring similar models in over 40 countries. It has received several awards including the Nobel Peace Prize for its success in reducing poverty. Critics argue it can trap borrowers in debt and impose social rules, but the bank denies forcing views on clients.Microfinance 090907122021-phpapp02
Microfinance 090907122021-phpapp02manish435
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This document provides an overview of microfinancing, including its origins and impact. Key points include:
- Microfinancing involves providing small loans to poor individuals who lack access to traditional banking. This allows them to start businesses and lift themselves out of poverty.
- Professor Yunus founded the Grameen Bank in Bangladesh in 1976, pioneering the microfinancing model. It now has over 6 million borrowers, most of whom are women.
- Studies show microfinancing increases household savings and income, and shifts borrowing away from moneylenders toward more formal sources.
- India has promoted microfinancing through development banks, encouraging NGOs and self-help groups to distribute loans to theAd
Poverty
- 1. { Poverty Study on microfinance in grameen bank
- 2. Poverty is defined as the state of one who lacks a usual or socially acceptable amount of money or material possessions. Poverty in Bangladesh is widespread, with up to 26% of its 150 million large population living below the national poverty line of US $2 per day. Worldwide, it is estimated 1.29 billion people were living in absolute poverty as of the year 2008. Poverty
- 3. Microfinance is a source of financial services for persons or organisations lacking access to banking and financial services. In the Indian Subcontinent, microfinance entails the following: - Loan given without security - Loans to persons who live below the poverty line - This allows for easier access to capital for persons of destitution, in order for them to utilize funds to better their economic situation. Microfinance
- 4. Muhammad Yunus was born in 28th June, 1940 in the village of Bathua, in Hathazari, Chittagong. His biggest influence was his mother, Sufia Khatun, who always helped any poor that knocked on their door. This inspired him to commit himself to eradication of poverty. Professor Yunus studied economics in the Vanderbilt University, USA and received his Ph.D. in Economics in 1970. He started the Grameen Bank Project in 1976. It was transformed into a formal bank in 1983. The Grameen Bank offers small loans for self employment for the rural poor, especially poor women. Muhammad Yunus
- 5. Grameen bank provides credit to the poorest of the poor in rural Bangladesh. This allows the poor to have an entrepreneurial spirit, which coupled with the credit provided to them by grameen bank, gives them the opportunity to break out of their cycle of poverty and set up profit making organisations According to a recent internal survey (2008) conducted by grameen bank, 65% of Grameen borrowers have crossed the poverty line. Grameen bank and impacts of this venture
- 6. http://en.wikipedia.org/wiki/Microfinance#Mic ro_Finance_on_the_Indian_Subcontinent http://www.grameen.com/index.php?option=co m_content&task=view&id=16&Itemid=112 http://www.academia.edu/206069/Grameen_an d_Microcredit_A_Tale_of_Corporate_Success References and sources
- 7. SSG/4 Nathan ong SSG/4 Nicholas chong SSG/4 Jeremy tan Done by
Editor's Notes
- #6: Hoho