Banker To The Poor : Micro-Lending and the Battle Against World Poverty

The inspirational story of how Nobel Prize winner Muhammad Yunus invented microcredit, founded the Grameen Bank, and transformed the fortunes of millions of poor people around the world. Muhammad Yunus was a professor of economics in Bangladesh, who realized that the most impoverished members of his community were systematically neglected by the banking system -- no one would loan them any money. Yunus conceived of a new form of banking -- microcredit -- that would offer very small loans to the poorest people without collateral, and teach them how to manage and use their loans to create successful small businesses. He founded Grameen Bank based on the belief that credit is a basic human right, not the privilege of a fortunate few, and it now provides $24 billion of micro-loans to more than nine million families. Ninety-seven percent of its clients are women, and repayment rates are over 90 percent. Outside of Bangladesh, micro-lending programs inspired by Grameen have blossomed, and serve hundreds of millions of people around the world. The definitive history of micro-credit direct from the man that conceived of it, Banker to the Poor is the moving story of someone who dreamed of changing the world -- and did. Muhammad Yunus Is That Rare Thing: A Bona Fide Visionary. His Dream Is The Total Eradication Of Poverty From The World. In 1983, Against The Advice Of Banking And Government Officials, Yunus Established Grameen, A Bank Devoted To Providing The Poorest Of Bangladesh With Minuscule Loans. Grameen Bank, Based On The Belief That Credit Is A Basic Human Right, Not The Privilege Of A Fortunate Few, Now Provides Over 2.5 Billion Dollars Of Micro-loans To More Than Two Million Families In Rural Bangladesh. Ninety-four Percent Of Yunus's Clients Are Women, And Repayment Rates Are Near 100 Percent. Around The World, Micro-lending Programs Inspired By Grameen Are Blossoming, With More Than Three Hundred Programs Established In The United States Alone. Banker To The Poor Is Muhammad Yunus's Memoir Of How He Decided To Change His Life In Order To Help The World's Poor. In It He Traces The Intellectual And Spiritual Journey That Led Him To Fundamentally Rethink The Economic Relationship Between Rich And Poor, And The Challenges He And His Colleagues Faced In Founding Grameen. He Also Provides Wise, Hopeful Guidance For Anyone Who Would Like To Join Him In Putting Homelessness And Destitution In A Museum So That One Day Our Children Will Visit It And Ask How We Could Have Allowed Such A Terrible Thing To Go On For So Long. The Definitive History Of Micro-credit Direct From The Man That Conceived Of It, Banker To The Poor Is Necessary And Inspirational Reading For Anyone Interested In Economics, Public Policy, Philanthropy, Social History, And Business. Muhammad Yunus Was Born In Bangladesh And Earned His Ph.d. In Economics In The United States At Vanderbilt University, Where He Was Deeply Influenced By The Civil Rights Movement. He Still Lives In Bangladesh, And Travels Widely Around The World On Behalf Of Grameen Bank And The Concept Of Micro-credit. Number 20 Boxirbat Road, Chittagong -- A Bengali in America -- Back in Chittangong -- The stool makers of Jobra Village -- A pilot project is born -- Expanding beyond Jobra into Tangail -- A bank for the poor is born -- Growth and challenges for the bank for the poor, 1984-1990 -- Applications in other poor countries -- Applications in the United States and other wealthy countries -- Grameen in the nineties -- Beyond micro-credit: a new world of Grameen enterprises -- Grameen Bank II -- The future. Winner of the 2006 Nobel Peace Prize. This autobiography of the world-renowned, visionary economist who came up with a simple but revolutionary solution to end world poverty--micro-credit--has become the classic text for a growing movement