Twenty-Two Cents: Muhammad Yunus and the Village Bank

Twenty-Two Cents: Muhammad Yunus and the Village Bank

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Overview

Growing up in Bangladesh, Muhammad Yunus witnessed extreme poverty all around and was determined to eradicate it. In 1976, as an Economics professor, Muhammad met a young craftswoman in the village of Jobra who needed to borrow five taka (twenty-two cents) to buy materials. No bank would lend such a small amount to an uneducated woman, so she was forced to borrow from corrupt lenders who charged an unfair interest rate, and left her without enough profit to buy food. Muhammad realized that what stood in the way of her financial security was just a few cents. Inspired, Muhammad founded Grameen Bank where people could borrow small amounts of money to start a job, and then pay back the bank without exorbitant interest charges. Over the next few years, Muhammad’s compassion and determination changed the lives of millions of people by loaning the equivalent of more than ten billion US dollars in micro-credit. This has also served to advocate and empower the poor, especially women, who often have limited options. Twenty-two Cents is an inspiring story of economic innovation and a celebration of how one person—like one small loan—can make a positive difference in the lives of many.

Product Details

ISBN-13: 9781620148099
Publisher: Lee & Low Books, Inc.
Publication date: 04/02/2018
Sales rank: 475,776
Product dimensions: 8.40(w) x 10.60(h) x 0.30(d)
Age Range: 8 - 11 Years

About the Author

PAULA YOO is an author and screenwriter whose children's books for Lee & Low include Sixteen Years in Sixteen Seconds, Shining Star, and several titles in the Confetti Kids series. Her titles have been recognized by the International Reading Association, the Texas Bluebonnet Award Masterlist, and Lee & Low's New Voices Award. She and her husband live in Los Angeles, California, where she works in television.

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