Microcredits

The concept of microcredits – the provision of small loans to the poor worldwide – gained international recognition when the Nobel Peace Prize was awarded in 2006 to the foremost promoter of this idea, Prof. Muhammad Yunus, founder of the Grameen Bank and numerous other social business ventures in Bangladesh. However, the “hype” triggered by this recognition also gave rise to controversial forms of microcredit lending. This represents a development similar to what the world experienced with conventional financial mechanisms during the global financial crisis.

Overview: Microcredits

In 2006, Muhammad Yunus received the Nobel Peace Prize for his idea of microcredits. Since then, substantial public and private funds have flowed into microfinance. The goal was to strengthen small businesses, reduce poverty in countries of the Global South, and, above all, provide women with income and greater independence.

Microinsurance Life Stories – Presentation of the Microcredit Study (M. Yunus)

Zum Start der Allianz-Ausstellung „Microinsurance Life Stories“ und der Vorstellung einer neuen Studie zur Wirkung von Mikrokrediten besuchte Friedensnobelpreisträger Muhammad Yunus das Allianz Forum in Berlin. In seiner Rede unterstrich der Gründer der Mikrokredit-Bewegung einmal mehr, wie seine Ideen den Kapitalismus revolutionieren können. Allianz SE – München, 18.11.2014 (mehr Infos auf der Webseite der Allianz). At the opening of the Allianz exhibition “Microinsurance Life Stories” and the presentation of a new study on the impact of microcredits, Nobel Peace Prize laureate Muhammad Yunus visited the Allianz Forum in Berlin. In his speech, the founder of the microcredit movement once again emphasized how his ideas could revolutionize capitalism. Allianz SE – Munich, 18.11.2014 (more information on the website of the Alliance).