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People have Rights to Credit : Reiterates Yunus


Muhammad Yunus, the Nobel Peace Prize Laureate and founder of Grameen Bank delivered a speech in New York. under the auspices of the Council on Foreign Relations.

Dr Yunus , an economist related the evolution of Grameen Bank which has been able to reach even the poorest of the poor going far beyond the scope of the conventional banks. He said that the target they had fixed in the Washington DC Summit of Micro-Credit in 1997 to bring poor people across the globe under the fold of micro-credit has been successfully achieved.

Yunus expressed it as a surprise that two third of people in this world did not have an access to conventional banking. Grameen banks’ micro credit facilities have established the right to credit even for the beggars. Yunus focused on a number of positive impacts of micro-credit including the empowerment of women and the example of good governance. He said that the poorest of the poor are now turning into income generating groups.

He also answered a number of critical questions .In answer to one of the questions , Yunus said that Grameen and the concept of micro credit are not country-specific , they are poverty-specific.

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