The Bangladeshi Economic Innovator Lifting People From Poverty

Banking On The Poor (April 1997)
The Grameen Bank has saved the lives of hundreds of women. Its founder, Muhammad Yunus, believes it can end world poverty: "There is no reason why poverty should be here. This is a rich country - 120, million energetic, hardworking, intelligent people. They can change the world." Equipped with such a vision, Yunus set up a loaning bank for the poor.

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Fourteen years later, two million Bangladeshis have been able to start their own businesses. Aisha is one of Grameen's success stories. Dressed in a fuchsia pink sari, she chants with other Grameen borrowers: "unity, labour discipline". Originally so poor she couldn't provide food for her children, eight years later, she owns $4000 worth of weaving looms. She takes widow, Poribanu, to the bank building where she signs for a loan for $100. The bank believes women to be more credit worthy than men: they think long-term. Despite the finance minister's argument that money should go into infrastructure, the charismatic Yunus claims that this does not directly benefit the lives of the poor people. Poribanu remains convinced that she, "god willing, can make further progress".

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Produced by ABC Australia - Ref 0324
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