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This comprehensive guide was developed by Grameen Foundation and Grameen Trust to provide microfinance institutions seeking to learn from the Grameen Bank approach with the information they need to create or expand programs to provide financial services to the poor.
More Pathways Out of Poverty explores new practices in microfinance, some of them revolutionary, and draws on the success of the industry to illustrate the challenges involved in lifting clients out of poverty. Taken together, the contributions from leading microfinance leaders and institutions serve as a map for ensuring that microcredit contributes powerfully to cutting absolute poverty in half by 2015.
Nobel Prize-winning microcredit institution Grameen Bank has financially empowered the poorest families in more than a hundred countries across the globe for over three decades through savings and loans. Recently, Grameen has undergone a complete overhaul of its system, creating "Grameen II" and seeking to make its loan programs more effective. The Poor Always Pay Back not only uncovers how a major financial institution is able to change its system in response to the needs of its borrowers, but also how Grameen redefined and continues to redefine the basic assumptions of credit worthiness. The immense success of Grameen Bank shows a hopeful trend in the alleviation of poverty.