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Muhammad Yunus set up the Grameen Bank in his home country of Bangladesh with loan of just [pound]17, to lend tiny amounts of money to the poorest of theoor - those to whom no ordinary bank would lend. Most of his customers - ashey still are - were illiterate women, wanting to set up the smallestmaginable village enterprises. It was his conviction that this new system ofmicro-credit', lending even such small sums, would give such people thepark of initiative needed to pull themselves out of poverty. Today, Yunus'system of micro-credit is practised around the world in some 60 countries,ncluding the US, Canada and France. His Grameen Bank is now a billion-poundusiness. It is acknowledged by world leaders and by the World Bank to be aundamental weapon in the fight against poverty. Banker to the Poor isunus's enthralling story of how he did it: how the terrible famine inangladesh in 1974 focused his ideas on the need to enable its victims torow more food; how he overcame the sceptics in many governments and amongraditional economic thinking; and how he saw his micro-credit extended even
Winner of the Nobel Peace Prize describes how he founded Grameen Bank that is devoted to providing poor people with miniscule loans. The bank has provided 3.8 billion dollars to 2.4 million families in rural Bangladesh, enabling them to lift themselves out of poverty forever.
Muhammad Yunus, the practical visionary who pioneered microcredit and, with his Grameen Bank, won the 2006 Nobel Peace Prize, has developed a visionary new dimension for capitalism which he calls "social business. " By harnessing the energy of profit-making to the objective of fulfilling human needs, social business creates self-supporting, viable commercial enterprises that generate economic growth even as they produce goods and services that make the world a better place. In this book, Yunus shows how social business has gone from being a theory to an inspiring practice, adopted by leading corporations, entrepreneurs, and social activists across Asia, South America, Europe and the US. He demonstrates how social business transforms lives; offers practical guidance for those who want to create social businesses of their own; explains how public and corporate policies must adapt to make room for the social business model; and shows why social business holds the potential to redeem the failed promise of free-market enterprise.
In the last two decades, free markets have swept the globe, bringing with them enormous potential for positive change. But traditional capitalism cannot solve problems like inequality and poverty, because it is hampered by a narrow view of human nature in which people are one-dimensional beings concerned only with profit. In fact, human beings have many other drives and passions, including the spiritual, the social, and the altruistic. Welcome to the world of social business, where the creative vision of the entrepreneur is applied to today's most serious problems: feeding the poor, housing the homeless, healing the sick, and protecting the planet. Creating a World Without Poverty tells the stories of some of the earliest examples of social businesses, including Yunus's own Grameen Bank. It reveals the next phase in a hopeful economic and social revolution that is already under way-and in the worldwide effort to eliminate poverty by unleashing the productive energy of every human being.
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