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Vol 1 (AAC) No 2

Published 1st December 2007

Muhammad Yunus

Managing Director, Grameen Bank

The work of Grameen Bank, which shared the 2006 Nobel Peace Prize with Yunus, its founder, began in 1974 when Yunus handed US$27 from his own pocket to a group of 42 craftswomen. The group used the money to pay off debt and develop their business, and eventually repaid him. This was the beginning of microfinance.

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