Throughout the "third world" inadequate access to reasonable credit in most villages remains a major hurdle to the fulfillment of basic human aspirations. Complex application procedures and lack of connections and collateral are insurmountable impediments. Ironically moneylending, especially to the poor, makes many fortunes and scarce resources are immobilized for consumption rather than invested in development.

Only 44 years old, YUNUS, his ex-students from Chittagong University, and their collaborators in the Bangladesh banking fraternity--with a modest investment of less than US$8 million--have launched a major, positive rural change in one of the world's poorest nations. Their collaboration has brought closer the day when it again can become "Golden Bangla. "

In electing MUHAMMAD YUNUS to receive the 1984 Ramon Magsaysay Award for Community Leadership, the Board of Trustees recognizes his enabling the neediest rural men and women to make themselves productive with sound group-managed credit. - Bookmark

 

Bin 11
No of copies: 50 copies