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Filed under: December 2007

Lending a Hand

When Muhammad Yunus loaned $27 to a group of 42 families in famine-ravaged Bangladesh in 1974, there is no way he could have envisaged how the internet might one day allow his labour to be spread around the globe. Mr. Yunus, recipient of the 2006 Nobel Peace Prize and driving force behind the enormously successful Grameen Bank, is the pioneer in the field of microcredit, which seeks to provide very small business loans (by western standards) to those who fly well under the radar of the established banking system, most often poor women in the developing world.

The ability of microloans to lift families out of poverty has been well documented. As of September 2007, Grameen Bank has more than Continue…

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