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Day: September 3, 2006

Lifting People out of Poverty

Lifting People out of Poverty

In 1976, Dr. Mohamed Yanus made a small gesture. He loaned $27 to a small community in Chittagong, Bangladesh. The money was used to pay off individual debts to loan sharks. $27 may not seem like much. For the people of Chittagong, it helped them get out from underneath crushing debt. Dr. Yanus went on to found the Grameen Bank. Using the same small loan model, now known as microfinance, he’s been able to bring people out of poverty. The…

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