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Muhammad Yunus, father of microfinance, talks about L.A. loan program
Muhammad Yunus, father of microfinance, talks about L.A. loan program

Muhammad Yunus, a 2006 Nobel Peace Prize laureate for pioneering the concept of small loans to impoverished entreprenuers, swung through Los Angeles over the weekend to mark the official launch of his Grameen America microfinance organization here. The event at the Skirball Cultural Center drew several hundred people, many who came to see the man known as the Banker to the Poor. Yunus developed his ideas about using unsecured credit to fight poverty during a 1974 famine in Bangladesh, where he was an economics professor. Yunus, 74, founded the Grameen Bank in 1983 and helped expand it to thousands of locations worldwide. In 2011, the Bangladesh government forced Yunus to resign his...

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