Muhammad Yunus, the Nobel peace prize winner, founded the Grameen Bank pioneering the concept of microfinance. Microfinance refers to an array of financial services including loans to people in poverty. These people are marginalized simply because they have little or no credit history. Millions have become entrepreneurs and small business owners through microfinance even though they had no collateral and wouldn't otherwise qualify for a standard bank loan. Default rates? The success of microfinance is a tiny fraction compared to defaults in the banking industry.
Muhammad Yunus focuses on 3 zero's:
(0 poverty, 0 unemployment and 0 carbon emission) which is be coordinating at the Paris Olympics 2024.
Here is Professor Yunus speaking at the launch of India Social Business Forum at The Taj Mahal Hotel in Mumbai. Sunlight HV LLP in our own efforts to alleviate poverty saw the connection between microfinancing and housing during this event. From the inspiration of Muhammad Yunus, the movement of Social Business, and the goal of Honeycomb Village we have developed and will soon release our first calculator for microfinancing Honeycomb Village.
A great new development for #Honeycomb Village. 3D is their middle name at #Primusdesign. Laser scanners, stereo lithography, and the talent to bring ideas to life is the kind of partnership we like! See more of Raj's work at www.primusdesign.in.