Originally aired Oct. 1, 2007
(Eds. Note: Yunus began the Grameen Bank in Bangladesh, Alex Counts started the Grameen Foundation)
Tom Fudge: Last year, one of the recipients of the Nobel Prize was a banker named Muhammad Yunus of Bangladesh. Yunus was a micro lender. That's the kind of person or foundation that gives tiny loans to very poor people who want to start their own business. Yunus began the Grameen Bank in Bangladesh , which has lent a total of about $6 billion to 7 million borrowers. It began its work in the mid-70s.
The enterprise has been a success. So much so that today commercial banks are taking a serious look at micro-lending. Is that good news? And what does it take to make micro-lending a success?
Guest
- Alex Counts , president and CEO of Grameen Foundation , a non-profit organization that supports microfinance loans.
