The Freedom Factory

Muhammad Yunus was awarded the Nobel Peace Prize in 2006 for his work in alleviating global poverty. He is the pioneer of the micro-lending movement, which targets the world’s poorest people for small loans that can be used for launching personal businesses. Yunus’s theory is that the best way to bring people out of poverty is to enable them to do it themselves. Yunus’s Grameen Bank never gives away money. They do not forgive loans when borrowers fall on hard times, instead merely restructuring terms and offering more money to alleviate immediate hardships. In Banker to the Poor, Yunus describes the path he and his bank took to discovering a winning formula that has saved the lives of millions of the world’s most desperate people. Continue Reading