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1970s
Microcredit emerged as a pioneering concept, with the Grameen Bank in rural area of Bangladesh, founded by Muhammad Yunus as a leading example
1980s
Microfinance evolved, expanding the range of financial services beyond just small loans to include savings, insurance, and money transfers
Today
Microcredit and microfinance have grown into a global industry, serving millions of clients and becoming a mainstream development strategy
Microfinance or Charity
Which is more effective in fighting poverty?