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The problems (and promise) of microfinance

Just three decades ago, billions of people around the world were stuck in a trap. Faced with low incomes on the one hand and exploitative loan sharks the other, they could neither save for the future nor purchase the capital required to generate a living. This changed with the pioneering work of Mohammad Yunus in Bangladesh, and with the establishment of the Grameen Bank in 1983, microfinance was born. 

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