Reading 10 - Muhammad Yunus, Nobel Peace Prize Recipient

Mohammed yunus can from a —-income family and used this issue of his past to open up —

Low

Greeman bank

He discovered that lack of — and not lack of ability or motivation, was a key factor trapping people in poverty

Access to credit

Traditional banks refused to lend to the poor, claiming it’s— as they lacked —, which reinforced cycles of poverty

Too risky

Collateral

Yunus founded Grameen Bank in 1983 to provide microcredit (very small loans) to poor individuals without requiring —

collateral

— became the primary borrowers at Grameen Bank, as Yunus observed they were more likely to invest money in their — + — + —

women

families, children, and communities

The microcredit model of Greeman bank showed very high — rates, challenging the belief that poor people are not —

repayment

creditworthy

Yunus argues that poverty is not caused by —, but by —

laziness or personal failure

social and economic systems that exclude people from financial opportunities