Question

Which agency was successful in meeting the credit needs of the poor at responsible rates in Bangladesh?

Answer 1

Gramen bank of bangladesh

Hope u like

Answer 2

Answer:

Grameen Bank was the brainchild of Professor Mohammad Yunus of University of Chittagong.

After the Bangladesh liberation war fought in 1971 the country was partitioned from West Pakistan and was formally known as Bangladesh.

But, the problem with this young country was widespread poverty and a huge population. A famine also occurred in Bangladesh in 1974.

All this needed to be tackled immediately and Professor Yunus came forward with an idea of proving small loans to the group of families without collateral and very low-interest rate.

This idea was successful and in 1976 a formal bank called Grameen Bank was established which provided cheap loans to people and helped considerably in their progress.