Green Energy for A Billion Poor
Green Energy for a Billion Poor: How Grameen Shakti Created a Winning Model for Social Business by Nancy Wimmer Main Points: "Grameen" means rural. "Shakti" means energy or force of power flowing through. Shakti also means "the Divin Mother" or female energy. In 1976, Mohammad Yunus loaned $27 to forty-two people to start their own small businesses. This opened the world's eyes to the genius of micro loans. Thirty years later his Grameen bank boasts over 7 million borrowers and a 99% loan repayment rate. Yunus was teaching at a University in Chittagong in Bangladesh when the country was going through a famine. He noticed the money lending principles and how harsh they are. He started taking the loans on behalf of other people, and started loaning that money out to others. So he created the Grameen Bank. Every month they are opening 40, 50, 60 branches and every month they are disbursing $60-70 million. In 2006, Yunus earned the Nobel Peac