Poverty and high population rate are said to be the biggest challenges to the world in next few decades. Regarding this thousands of financial assistance institutions and NGOs are working all over the world, which are trying to utilize all their available resources in order to bring down the rate of poverty, even in developed countries. But due to lack of good management and weak points in policies or method of operation, not all the organizations have achieved their targets. If some of them have been succeeded in their mission their achievements are not enough.
Grameen Bank and its others institutions has great contribution in bringing down poverty and unemployment in all over the world, particularly in Bangladesh. The founder of Grameen bank Dr. Muhammad Younus has devoted his whole life in serving the poor. He was a young man from Bangladesh with a PhD in economics from America with enthusiasms of serving his nation. While serving as a head of economics department he was wondered about the fact that his subject could collect the statistics but it was unable to solve their problems. He believed that an individual can change the lives of thousands and assuming it as a target he began to do what he was able of.
He found out the main cause of poverty and then started helping the poor by lending them little money, which they needed to make livelihood. At beginning he lent only $27 to forty families from his own pocket. He further expended his mission with the financial assistance and encouragement of his companions. He thought that human beings are not born to suffer the misery of huger and poverty. That was a thought which lead him to his destination. Grameen bank was established in 1976 with the amount of $27. It had lent $2.3 billion to 2.3 million families in 1998. In 1997 Micro credit summit was held in which 3000 people participated from 176 countries and appreciated the services of Dr. Muhammad Younus.
