“I made a list of people who needed just a little bit of money. And when the list was complete, there were 42 names. The total amount of money they needed was $27.” I was shocked –  Muhammad Yunus

Muhammad Yunus is a great economist and also the founder and pioneer behind the Grameen Bank which is an institution providing Micro Credit such as small loans.

The Benefit:

In todays world, nearly half of the populations earns less than $2.50, normal banks do not seem to be a fit for these people. This is where Micro-credit comes in, as these people can be given loans which could help them achieve great success. This makes it a tool to alleviate poverty as it helps people help themselves.

For society micro-credit also has its benefits. This is because it helps bring opportunities that would not exist to people that may have great ideas. This gives society the benefit of their success.

It is people like Muhammad Yunus who have gone out of their way to establish this sort of finance for the people. Though there are not many rags to riches story the amount of good done with a small donation is disproportionate helping people achieve something that could change their live with a couple of cents. Making this one of the most sustainable ways to solve poverty in todays world.