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 Bangladesh: Poor can no longer bank on micro-credit

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RR Phantom

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Bangladesh: Poor can no longer bank on micro-credit Vide
PostSubject: Bangladesh: Poor can no longer bank on micro-credit    Bangladesh: Poor can no longer bank on micro-credit Icon_minitimeSat Apr 09, 2011 1:18 am
An industry set up to fight poverty has fallen on hard times itself, writes Ben Doherty in Dhaka.

Just about anywhere you go in Bangladesh you will find evidence of Muhammad Yunus's life work.

Grameen, the bank for the poor he started three decades ago with $US27 from his own pocket, now boasts $US1 billion in loans, more in savings, and more than 8 million customers.

Less bank than empire, Grameen also operates a mobile phone company, a knitwear factory and a power provider. Its billboards are ubiquitous, and hawkers peddle its founder's books at traffic lights with a single word: ''Yunus?''.

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