A FUTURE FOR EVERYONE !!

A  FUTURE FOR EVERYONE ( BY S.CATALAN)

Traditional banks don’t usually lend money to poor people because they don’t have possessions or as security to repay loans.

The idea for microcredit started developing many years ago, during his time teaching at University of Bangladesh by Yunus. Small amounts of money are lent  (++++)to poor people with lower rates of interest than the banks charged them. Consequently, the borrowers could make higher profits. Firstly, he started lending from his own money to some women from a small town near the university. Nowadays, it has become an organization of microcredits. Not only Yunus lent money to poor communities, but he also persuaded local banks to lend money to the organisation which was used to lend microloans again. Besides, try to convince people to save money in order to have more possibility of lending microcredits to others families. 

 Summing up, microcredits is a system which feeds itself and will benefit poor people.