Growing up in Bangladesh, Muhammad Yunus witnessed extreme poverty all around him and was determined to eradicate it. In 1976, as an economics professor, Muhammad met a young craftswoman who needed to borrow five taka (twenty—two cents) to buy materials. No bank would lend such a small amount to an uneducated woman, so she was forced to borrow.
Inspired, Muhammad founded Grameen Bank, where people could borrow small amounts of money to invest in themselves or their own businesses, and then pay back the bank without exorbitant interest charges. Over the next few years, Muhammad's compassion and determination changed the lives of millions of people by loaning the equivalent of more than ten billion US dollars in micro—credit. He received the 2006 Nobel Peace Prize for establishing Grameen Bank and championing microfinance. The Story of Banker to the People Muhammad Yunus is an inspiring account of economic innovation and a celebration of how one person—like one small loan—can make a positive difference in the lives of many. This chapter book includes 2019 Frontlist Titles black—and—white illustrations as well as sidebars on related subjects, a timeline, a glossary, and recommended reading.