Write a note on the success story of ‘Grameen Bank of Bangladesh’

cbse
economics
money-and-credit
cbse-class-10
cbse-class-10-social

#1

Write a note on the success story of ‘Grameen Bank of Bangladesh’.

Answer:
Grameen Bank of Bangladesh was founded by Prof. Muhammad Yunus (a recipient of Nobel Peace
Prize for the year 2006) in year 1970. Over the last 42 years i.e., from 1976 to 2017 the operations of the
bank spread to a large area of. Bangladesh. The bank was started with a very small project and in year 2005, it spread across 40,000 villages with 6 million borrowers in various parts of Bangladesh. Most of the borrowers of this bank are women and belong to poor sections of society. These poor women have started ‘self-employment’ projects by taking credit from this grameen bank. This credit has positive impact on these women as they started a gainful employment, which helped them not only to repay their loan but also to earn a good living for themselves and their family.