Grameen Foundation: "Give me your poor..."
I would like to lead you to the 2006 Nobel Peace price winner, Mohammad Yunus:
Dr. Yunus was awarded the Nobel Peace Prize for his pioneering work in the use of microcredit. Dr. Yunus is an economist who founded Grameen Bank in 1976 (formally in 1983) to give small loans to mostly poor women in rural Bangladesh to start small businesses. These women, who were otherwise deemed "unbankable" by conventional banks, proved to be a lower credit risk than most "creditworthy" borrowers. Grameen Bank’s loan repayment rate is over 98% - significantly higher than most commercial banks in the Third World. Dr. Yunus discovered that microcredit can be both commercially viable and an engine for socio-economic change. Grameen Bank has helped millions of Bangladeshis rise above poverty, not through charity, but through hard work and a little faith in their abilitiesRead the rest of the story at DrStrangelove.
Also, to check out more information regarding microcredit, go to the Grameen Foundation.
Here are some of the places where they work.
And as the Nobel Peace price tells us, 'it' works! Congratulations Dr. Yunus!
Also, please check out Drishtipat, for a day at Grameen.