The Grameen Bank is a microfinance organization based in Bangladesh that provides small loans, known as microcredit, to help alleviate poverty and promote entrepreneurship among low-income individuals, particularly women.
Related terms
Microfinance: A system that offers financial services, such as loans and savings accounts, to low-income individuals who lack access to traditional banking resources.
Poverty alleviation: Efforts made to reduce or eliminate poverty by improving living conditions and providing economic opportunities for disadvantaged communities.
Entrepreneurship: The activity of setting up a business or businesses while taking on financial risks in the hope of making a profit.