Grameen China

"Grameen China was established by Nobel Prize winner Professor Muhammad Yunus to provide services such as micro-finance, savings, financial education, and credit establishment for low-income women in China, aiming to encourage them to create or expand their own businesses, and thus breaking the vicious cycle of poverty. Grameen China is based on the success of Professor Yunus and Grameen Bank.

Professor Yunus and the Grameen Bank he founded jointly won the Nobel Prize in 2006 for its appreciable progress in poverty reduction along with its pioneering belief that credit is a fundamental human right. By canceling the requirements for mortgages, Grameen Bank created a banking system based on mutual trust, participation and creativity, which changed the traditional practice of the banking industry and provided collateral-free financial services for low-income households.

Replicas of the Grameen Bank model operate in more than 41 countries including the United States, Mexico, and Turkey, benefiting 16.88 million low-income families worldwide and creating a miracle of a repayment rate of more than 99% repayment. Thus, it proved to be a sustainable and effective model in the struggle against poverty in a global scale."