I heard Yunis's loans are hardly beyond $137.00 and served millions of people. There were no collatherals for the loans either. He is a professor of economics and his forst loan to a community was from his own pockets. The village he started was not far from his campus. In the village 42 people owed money lenders less than 30 dollars which was a big sum for them.
He infact paid off their debts free. The villagers could not understand how one man could afford to pay off a loan of 30.00 dollars owed by 42 people. This is abject poverty. He said whenever he visisted the village, people look at him in amazement.
He then gave them small loans to start basket making which has now touched millions
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Posted - 07 Dec 2006 : 19:39:27
