Creating a World Without Poverty

February 25, 2008 | CUNY Lecture Series, York College

Mohammad Yunus, winner of the 2006 Nobel Peace Prize and founder the Grameen Bank in his native Bangladesh, discusses his latest book, “Creating a World Without Poverty” and how the free market can eliminate poverty, hunger and inequality. Speaking at York College, Yunus recalls the beginnings of his pioneering banking program in the late 1970s, when he lent $27 to a group of women so they could buy bamboo to make furniture. The bank provides small loans known as microcredit to borrowers, mostly women, so they can develop self-employment projects and generate income. Today, Grameen Bank is owned by 7.7 million borrowers, 97 percent of them women. “Poverty,” he says, “is an artificial imposition on the people.”
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