Muhammad Yunus was born in Bangladesh and earned his Ph.D.
in economics at Vanderbilt University. After returning to
Bangladesh to teach, he was inspired by the country's crushing
famine of 1974 to leave academia to help the poor. His revolutionary
microcredit concept began by giving out loans totaling twenty-seven
dollars to forty-two villagers with no collateral. Microcredit
has now spread to more than fifty countries worldwide. With
a repayment rate of 98 percent and two million borrowers,
Yunus's $2.5 billion Grameen Bank has expanded into dozens
of other projects for empowering the poor, including telecommunications
and venture capital.
Resources for Teachers
Reflections on Working