Originally Published in Madras Courier
Editorial Note
Grameen Bank’s financial and socio-economical success is a testimony to the power of micro-finance to effect social change.
In the 1970s, Bangladesh was only featured in global media when a natural catastrophe of alarming proportions afflicted the under-developed country teeming with millions living in extreme poverty. At the time, almost all the developmental foreign aid was funded for government infrastructure programs, where the majority of its poor people were socially and financially excluded from the beneficiaries list.