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Question
Which of the following nations is considered the originator of the concept of Micro-Finance?
Which of the following nations is considered the originator of the concept of Micro-Finance?
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Solution
The correct option is B Bangladesh
The Grameen Bank, which is the first modern micro- credit institution, was founded in 1983 by Muhammad Yunus from Bangladesh. Yunus began the project in a small town called Jobra, using his own money to give small loans at low-interest rates to the poor in rural areas.
The Grameen Bank, which is the first modern micro- credit institution, was founded in 1983 by Muhammad Yunus from Bangladesh. Yunus began the project in a small town called Jobra, using his own money to give small loans at low-interest rates to the poor in rural areas.
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