Grameen Bank (GB)
Founded 2 Oct 1983, Bangladesh, when officially founded as an independent bank, having originated, 1976, as an action research project of Chittagong University. Founder: Prof Muhammad Yunus. Received the Nobel Peace Price in 2006.
Eradicate poverty in Bangladesh by: using credit as a cost-effective weapon against poverty and as a catalyst in improving socio-economic conditions of the poor; extend banking facilities to poor women as well as men; eliminate exploitation of the poor by money lenders so as to create opportunity for self employment for unutilized and underutilized manpower resources; bring disadvantaged people into an organizational system that they can understand and operate and can find socio-political and economic strength through mutual support; reverse the vicious circle of low income to an expanding system of low income - credit - investment - more income - more credit - more investment - more income.
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UN Sustainable Development Goals **
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