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To Grameen Bank founder and microfinance father Muhammad Yunus, poor people are like bonsai. Even if you choose the best seed of the tallest tree and you plant it in a small flower pot, it cannot grow big. In this audio lecture, Yunus, winner of the Nobel Peace Prize in 2006, insists that credit is a human right. He discusses the success of Grameen Foundation and Grameen Bank in moving millions of families out of poverty through small loans, beginning in Bangladesh and spreading worldwide. Yunus addresses the role of governments in facilitating the creation of microcredit banks, and the role of international organizations such as the United Nations and the World Bank.
Muhammad Yunus has helped to raise millions of families out of poverty by founding the Grameen movement. Grameen creates the opportunities for microcredit, the extension of small loans to entrepreneurs who are often in rural communities, too poor to qualify for traditional bank loans. This lifechanging work won Yunus and Grameen the Nobel Peace Prize in 2006 "for their efforts to create economic and social development from below." Yunus received his PhD in economics in 1969, was an assistant professor of economics at Middle Tennessee State University, and later joined the economics department at Chittagong University at home in Bangladesh. He has received numerous international awards for his innovative work to eradicate poverty and famine, and to promote peace through economic and social justice.
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