Detroit Democracy for America Book Club April Meetup

The April book is Muhammad Yunus' "Banker to the Poor: Micro-Lending and the Battle Against World Poverty."

The simple idea of micro-loans is revolutionizing developing economies. Instead of lending large sums of money to often corrupt bureaucracies, economist Muhammad Yunus founded Grameen Bank to offer tiny sums, as little as $5, to individual craftspeople, tenant farmers, and subsistence entrepreneurs so they could keep themselves afloat between buying and selling. That was in 1983. Sixteen years later, with $2.5 billion being dispersed annually to more than two million families in rural Bangladesh and repayment rates close to 100 percent, Yunus is being hailed as the father of a new economic model that is bringing people out of poverty. In Banker to the Poor, Yunus explains why his program works.

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