Poverty Alleviation and the Grameen Bank

processing, handicrafts, poultry raising, vegetable growingandsoforthcouldeasilybechanneled intoincome-generat-ingactivities. Heknewfromhisfieldresearch thatthepoorinBangladesh werehardworking andmuch morecapableoftakingcareofthemselves thanasportrayed indevelopmenttextbooks. They needed nomercy orcharity--only small10ans(Yunus 1987).TheGrameen Bankhasevolved into aformidableorganization headed byYunusasitmanaging director. ByAugust 1993,theG[ameen Bankhadgrown to 1,679,764members (ofwhich 92percent were women), lendingtheequivalent ofD. S.$743 million(Table 1). Inaddition tospreading rapidly inBangladesh, the Gra~een Bank hasinspiredpoverty alleviation ruralbanking 'effortsinBolivia,(Please see Grameen, Page 16)1,579,764100,6371,680,4011,03433,080214,959$743 million*about 98%