Using the Grameen Bank in Bangladesh as an Example,explain How

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The Answer is The Grameen Bank offers microloans with no collateral to the poorest of the poor in Bangladesh.Borrowers are organized into groups of five,but not all members can borrow at once.Two borrowers may receive a microloan at one time;but not until these two borrowers begin to pay back the principal plus interest can the other members become eligible for their own loans.The average interest rate is 16 percent,and the repayment rate is an unprecedented 98 percent,which is attributed to group pressure,empowerment,and motivation.The loans are tiny-typically enough to buy a goat,tools,or a small piece of machinery that can be used to produce new sources of income.

Using the Grameen Bank in Bangladesh as an Example,explain How

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Using the Grameen Bank in Bangladesh as an Example,explain How

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Correct Answer:
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