Grameen Bank Model Expanded to Mexico with the $45 Million Grameen Carso Microfinance Program

Grameen Bank has been shaped in 1983, in Bangladesh, by Professor Muhammad Yunus who has been a pioneer in the microcredit field and who was awarded the Nobel Peace Prize in 2006. Today Grameen Bank provides loans to almost 8 million borrowers across Bangladesh. Moreover, in 1989, Mr. Yunus expanded the Grameen Bank model to other countries as he created the Grameen Trust.

Lately, Grameen Trust has joined hands with Fundacion Carlos Slim (family charity of Carlos Slim, 3rd wealthiest man in the world – as per Forbes) to create Grameen Carso. As a recent article reveals “The mission of Grameen Carso is to significantly increase access to affordable micro-credit in Mexico for poverty alleviation through the Grameen Bank microcredit model and the support of Foundation Carlos Slim. Grameen Carso plans to serve more than 100,000 borrowers in the first five years.”