Grameen Bank

Awarded the Prize “for the efforts to create economic social development from below.”

The Grameen Bank is a microfinance organization community development bank started in Bangladesh that makes small loans (known as microcredit or "grameencredit") to the impoverished without requiring collateral, founded by Muhammad Yunus. It was established in Bangladesh, it is issued to the poor small loans without required guarantee (ie, micro-loans), the main targets of its loans locked in poor rural women, simply because of their motivation for the loan is to start a business (home manual small business), so the amount of borrowing is low, this not big enough money definitely does good to improve their family life, thus the repayment rate is high. The bank also accepts deposits, provides other services, runs several development-oriented businesses including fabric, telephone energy companies.