Grameen Bank

Grameen Bank, founded in Bangladesh by Muhammad Yunus in 1983, is a microfinance organization that provides small loans to the impoverished, particularly women, without requiring collateral. Its mission is to promote entrepreneurship and self-employment, helping individuals escape poverty through income-generating activities. The bank operates on principles of trust and social responsibility, emphasizing that the poor are capable of repaying loans. Grameen’s model has been widely recognized, inspiring similar initiatives globally and highlighting the importance of financial inclusion in economic development. The bank’s success has earned Yunus and Grameen the Nobel Peace Prize in 2006.