Micro Credit revolution

Returning from a gig yesterday evening I heard Muhammed Yunus, founder of the Grameen Bank, on Radio National, speaking on eliminating poverty within 30 years.

Australia is witnessing yet another round of bank mergers. The big grow bigger on the pretext that size maters in a global economy. But small also matters. The Grameen Bank is heralded internationally as a lifesaver for tens of thousands of people. Based on the unworldly principle of micro credit the bank lends over half-a-billion each year. It invokes inverse rules of banking: if you have nothing they want to know you. Business Week named its founder Muhammed Yunus as one of the greatest entrepreneurs of all time. His portrait hangs next to Henry Ford and John D Rockefeller. Muhammed Yunus recounts the remarkable work of Grameen, over three decades. with the poor and neglected.

You can listen here or download to your pod.

Filed under: Big Picture, Economics, Grameen Bank, Micro Credit