Question

What role does the Grameen Bank play in Bangladesh?

Answer 1

The Grameen Bank is a community development bank started in Bangladesh. They give small loans (known as microcredit or "grameencredit" [1]) to poor people without asking for money before the loan is given. The word "Grameen", is made of the word "gram" or "village", and means "of the village".

Answer 2

Answer:

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Explanation:

Grameen Bank of Bangladesh was started in the 1970s. It has now over 6 million borrowers in about 40,000 villages. Almost all the borrowers are women and belong to poorest sections of the society. These borrowers have proved that not only are poor women reliable borrowers, but they can start and run a variety of small income generating activities successfully. Thus the Grameen bank has played a significant role in the improvement of the condition of the poor women in Bangladesh. Professor Muhammad Yunus, the founder of Grameen Bank and recipient of 2006 Nobel Peace prize for peace has stated that,” if credit can be made available to the poor people on terms and conditions that are appropriate and reasonable these million of small people with their millions of small pursuits can add up to create the biggest development wonder”.