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Grameen
Grameen Bank ( bn, গ্রামীণ ব্যাংক) is a microfinance organisation and community development bank founded in Bangladesh. It makes small loans (known as microcredit or "grameencredit") to the impoverished without requiring collateral. Grameen Bank originated in 1976, in the work of Professor Muhammad Yunus at University of Chittagong, who launched a research project to study how to design a credit delivery system to provide banking services to the rural poor. In October 1983 the Grameen Bank was authorised by national legislation to operate as an independent bank. The bank grew significantly between 2003 and 2007. As of January 2011, the total borrowers of the bank number 8.4 million, and 97% of those are women. In 1998 the Bank's "Low-cost Housing Program" won a World Habitat Award. In 2006, the bank and its founder, Muhammad Yunus, were jointly awarded the Nobel Peace Prize. History Muhammad Yunus was inspired during the Bangladesh famine o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Muhammad Yunus
Muhammad Yunus (born 28 June 1940) is a Bangladeshi social entrepreneur, banker, economist and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. Yunus and the Grameen Bank were jointly awarded the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below". The Norwegian Nobel Committee said that "lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty" and that "across cultures and civilizations, Yunus and Grameen Bank have shown that even the poorest of the poor can work to bring about their own development". Yunus has received several other national and international honours. He received the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010. In 2008 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grameen America
Grameen America is a 501(c)(3) nonprofit microfinance organization based in New York City. It was founded by Nobel Peace Prize recipient Muhammad Yunus in 2008. Grameen America is run by former Avon Chairman and CEO Andrea Jung. The organization provides loans, savings programs, financial education, and credit establishment to women who live in poverty in the United States. All loans must be used to build small businesses. Services Grameen America offers four key products. #Microloans. The maximum first-time loan is $1,500, though borrowers can return for larger loans once they have repaid their initial loan. #Savings program. Grameen America provides no-fee, no minimum balance savings accounts through commercial partner banks. #Credit Establishment. Grameen America helps members build credit by reporting loan repayments directly to Experian. #Financial Education. Grameen encourages group mentoring during a five-day initial training and weekly meetings with members. Lending proce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microcredit
:''This article is specific to small loans, often provided in a pooled manner. For direct payments to individuals for specific projects, see Micropatronage. For financial services to the poor, see Microfinance. For small payments, see Micropayment.'' Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, or a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled US$38 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent. Microcredit is part of microfinance, which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.Christen, Robert Peck Christen; Rosenberg, Richard; Jayadeva, Veena. ''Financial institutions with a double-bottom line: Implications for the future of microfinance''. CGAP, Occasional Papers series, July 2004, pp. 2–3. ID Ghana is an example of a microfinance institution. Microfinance initially had a limited definition: the provision of microloans to poor entrepreneurs and small businesses lacking access to credit. The two main mechanisms for the delive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.Christen, Robert Peck Christen; Rosenberg, Richard; Jayadeva, Veena. ''Financial institutions with a double-bottom line: Implications for the future of microfinance''. CGAP, Occasional Papers series, July 2004, pp. 2–3. ID Ghana is an example of a microfinance institution. Microfinance initially had a limited definition: the provision of microloans to poor entrepreneurs and small businesses lacking access to credit. The two main mechanisms for the delive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Development Bank
Community development bank (CDB) or Community Development Financial Institution (CDFI) is a development bank or credit union that focus on serving people who have been locked out of the traditional financial systems such as the unbanked or underbanked in deprived local communities. They emphasize the long term development of communities and provide loans such as micro-finance or venture capital. In the United States these became popular after 1994 when the US Congress created community development banks and allowed them to get funding at very low rates from the US treasury. In the United States In the United States, community development banks are commercial banks that operate with a mission to generate economic development in low- to moderate-income (LMI) geographical areas and serve residents of these communities. In the United States, community development banks are certified as such by the Community Development Financial Institutions Fund, a department within the U.S. De ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Habitat Award
The World Habitat Awards were established in 1985 by the Building and Social Housing Foundation as part of its contribution to the United Nations' International Year of Shelter for the Homeless in 1987. Two awards are given annually to projects from the Global South as well as the North that provide practical, innovative and sustainable solutions to current housing needs, which are capable of being transferred or adapted for use elsewhere. Overview Entries to the Awards are encouraged from housing projects and programmes that: * demonstrate practical, innovative and sustainable solutions to current housing challenges; * can be transferred or adapted in other countries across the world; * are already being implemented or are completed i.e. not at design stage or in the very early stages of development; and * view the term habitat from a broad perspective and bring a range of other benefits. We particularly encourage entries from projects and programmes that are addressing the clima ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dhaka
Dhaka ( or ; bn, ঢাকা, Ḍhākā, ), formerly known as Dacca, is the capital and largest city of Bangladesh, as well as the world's largest Bengali-speaking city. It is the eighth largest and sixth most densely populated city in the world with a population of 8.9 million residents as of 2011, and a population of over 21.7 million residents in the Greater Dhaka Area. According to a Demographia survey, Dhaka has the most densely populated built-up urban area in the world, and is popularly described as such in the news media. Dhaka is one of the major cities of South Asia and a major global Muslim-majority city. Dhaka ranks 39th in the world and 3rd in South Asia in terms of urban GDP. As part of the Bengal delta, the city is bounded by the Buriganga River, Turag River, Dhaleshwari River and Shitalakshya River. The area of Dhaka has been inhabited since the first millennium. An early modern city developed from the 17th century as a provincial capital and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mary Houghton
Mary Houghton is co-founder of ShoreBank, the largest and oldest community development bank. Houghton, along with Milton Davis, James Fletcher, and Ron Grzywinski purchased what was then South Shore Bank to fight redlining in the Chicago neighborhood. She retired as president in May 2010. Biography In the early 1980s, Houghton and Grzywinski worked with Muhammad Yunus of the Grameen Bank in Bangladesh (Yunus and Grameen Bank received the 2006 Nobel Peace Prize). From 1986 to 2001, Houghton served on the Board of Directors of Accion International. Houghton serves as a director of Vancity Community Investment Bank in Toronto and served as a director of the Calvert Foundation and Women's World Banking. She is a member of the Ashoka Global Academy for Social Entrepreneurship. Houghton received a B.A. ''cum laude'' from Marquette University and an M.A. in International Studies from Johns Hopkins University. In 2009, Houghton served as one of six selection committee members for th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ShoreBank
ShoreBank was a community development bank founded and headquartered in Chicago. At the time of its closing it was the oldest and largest such institution, and in 2008 had $2.6 billion in assets. It was owned by ShoreBank Corporation, a regulated bank holding company. ShoreBank had branches in Chicago's South Side (Chicago), South and West sides, Cleveland, and Detroit. Between 2000 and 2006, ShoreBank issued nearly $900 million in loans to citizens in Chicago, Detroit, and Cleveland. ShoreBank and its affiliated companies have projects in 30 countries. ShoreBank incorporated environmental conservation into its mission during the 1990s, helping develop a triple bottom line approach to banking, equally prioritizing profits, impact on people, and the impact of a project on the environment. At that time it established ShoreBank Pacific based in Portland, Oregon. ShoreBank accepted mission-based deposits from across the country through its Development Deposits program, launched in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ford Foundation
The Ford Foundation is an American private foundation with the stated goal of advancing human welfare. Created in 1936 by Edsel Ford and his father Henry Ford, it was originally funded by a US$25,000 gift from Edsel Ford. By 1947, after the death of the two founders, the foundation owned 90% of the non-voting shares of the Ford Motor Company. (The Ford family retained the voting shares.) Between 1955 and 1974, the foundation sold its Ford Motor Company holdings and now plays no role in the automobile company. Ahead of the foundation selling its Ford Motor Company holdings, in 1949, Henry Ford II created the , a separate corporate foundation that to this day serves as the philanthropic arm of the Ford Motor Company and is not associated with the foundation. The Ford Foundation makes grants through its headquarters and ten international field offices. For many years, the foundation's financial endowment was the largest private endowment in the world; it remains among the wealthie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ron Grzywinski
Ron Grzywinski is a community development banker from Chicago, and one of four founders of ShoreBank. In May 2010 he retired as chair of ShoreBank Corporation and took the position of Advisor to the Board of Directors of ShoreBank Corporation. Early life and career Ron Grzywinski was born in 1936 in Chicago's South Chicago community area on the city's south side. His banking career began at the First National Bank of Lockport, and he moved to the Hyde Park Bank in 1967. In 1973, Ron and three colleagues (Milton Davis, James Fletcher, and Mary Houghton) purchased the South Shore Bank (eventually renaming it ShoreBank) in Chicago's South Shore, Chicago, South Shore neighborhood to fight redlining. It was America's first community development bank, and it has grown into what is, by most accounts, the most successful community development and microfinance institution in the country. The bank's successful combination of a social mission with profitability finds it frequently cited ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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