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microfinance

Local need may draw microfinance bank

Could a local branch of Grameen Bank work here in Champaign-Urbana?

Grameen America, the microfinancing organization for the poor, announced it has entered into discussions with Champaign developer Peter Fox about establishing a branch of Grameen Bank in East Central Illinois.

Robin Scholz - The News-Gazette/ Nobel Peace Prize Winner Muhammad Yunus, left, signs copies of his books for Tasneem,left, and Murtaza Husain, Champaign, at the University of Illinois Business Instructional Facility in Champaign on March 1 , 2010.
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Man started bank that provides loans to the poor

“Not credit-worthy.”

That is what the local bankers told Muhammad Yunus when he met with them in Bangladesh over 30 years ago to ask them why they would not loan to the poor in the village of Jobra.

Robin Scholz - The News-Gazette/ Nobel Peace Prize Winner Muhammad Yunus signs copies of his books at the University of Illinois Business Instructional Facility in Champaign on March 1, 2010.
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