Facts on Grameen bank of Bangladesh

Abstract

The document provides an overview of the Grameen Bank (GB) of Bangladesh, focusing on its origins, operational principles, and impact on poverty alleviation. Established by Professor Muhammad Yunus in 1976, GB targets the landless and assetless poor, offering microcredit and savings facilities. The bank's success is attributed to its unique group-based lending model, which emphasizes trust, peer pressure, and collective accountability. GB has expanded significantly, reaching over 30,000 villages by 1992. The document also discusses the bank's organizational structure, loan disbursement process, and various funds managed by members. It concludes by suggesting the potential applicability of GB's model in Ethiopia, particularly for rural development and poverty reduction.