”Banker to the Poor: Micro-Lending and the Battle Against World Poverty,” Part 2 of 2

Today, Grameen Bank has over nine million borrowers, mostly women, 97% women. And they own the bank; they take the money and start a business and continue to take the money, improve their lives. Bangladesh has done wonderful in terms of reducing poverty in the country. At the end of 1971, 85% of the people were under poverty. Today, that poverty line came down to 22%, so that’s a long journey that we took. Viewing philanthropy as an interim solution to poverty, Professor Yunus often reiterates what he calls a holistic social business model. In this model, individuals and groups not only extend economic avenues to the disadvantaged, but also enable their empowerment as members of society.