Muhammad Yunus, Economist
You are famous for pioneering microfinance can you explain what that Is simply?
It is credit given to the poorest people, without collateral, to create some income-generating activity …a small loan go1ng to a poor woman.
What inspired yon to set up the microfinance-led Grameen Bank?
I saw a loan shark in the village and I got so upset, because he took control of people’s lives. I wanted to know how much money was involved; when my list was complete, there were 42- people on that list (and the] total money borrowed was $27.So I said: "My God, for this money people have to suffer so much." I went to see if the bank wi1llend the money. The bank said: "No way, poor people are not creditworthy. They will eat up your money." I said, "No, you will see.” I offered myself as a guarantor.
See full interview here