THE Grameen Bank - a rural credit
scheme in Bangladesh - is making
waves. The bank, the brainchild of
economist Muhammad Yunus,
advances loans to the poorest sections of the society and reached out
to more than 1.6 million people in
the last decade.
Inspired by its success, Grameen Bank clones have come up in Malaysia, the Philippines, many African countries as well as Norway and USA. Besides, the Asia Pacific Network for Credit and Savings for the Hardcore Poor has been set up to popularise the concept in Asia.
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