摘要：In 2006, the Grameen Bank and its founder
Muhammad Yunus were awarded the
Nobel Peace Prize for their efforts to reduce
poverty in Bangladesh. By providing small
loans to the extremely poor, the Grameen Bank
offers these recipients the chance to become
entrepreneurs and earn sufficiently high income
to break themselves free from the cycle of poverty.
Yunus¡¯s pioneering efforts have brought renewed
attention to the field of microfinance as a tool to
eliminate poverty; and, since 1976 when he first
lent $27 to 42 stool makers, the Grameen Bank
has grown to include more than 5.5 million members
with greater than $5.2 billion in dispersed
loans. As microfinance institutions continue to
grow and expand, in both the developing and
developed world, social activists and financial
investors alike have begun to take notice. In this
article we seek to explain the rise in microfinance
since its inception in the early 1980s and the
various mechanisms that make microfinance
an effective tool in reducing poverty.1 We also
address the current problems facing microfinance
and areas for future growth.
