Which organization is a microfinance bank founded in Bangladesh in 1983?

Which organization is a microfinance bank founded in Bangladesh in 1983?

• A. World Bank
• B. Grameen Bank
• C. International Monetary Fund
• D. Bangladesh Rural Savings Bank

Answer: (B)

Microfinance aims to give tiny loans and basic financial services to the very poor, especially in rural areas, to help people start small businesses and improve their living conditions. Grameen Bank matches this idea exactly because it was started in 1983 in Bangladesh to provide microcredit to rural poor, with a notable focus on supporting women. It pioneered approaches like group lending and collateral-free loans, which made it possible for many to lift themselves out of poverty and build sustainable livelihoods. The World Bank and IMF are large international institutions with broader roles, not a country-specific microfinance bank, and the Bangladesh Rural Savings Bank isn’t the same organization. So Grameen Bank is the one founded in Bangladesh in 1983 that specializes in microfinance.

Microfinance aims to give tiny loans and basic financial services to the very poor, especially in rural areas, to help people start small businesses and improve their living conditions. Grameen Bank matches this idea exactly because it was started in 1983 in Bangladesh to provide microcredit to rural poor, with a notable focus on supporting women. It pioneered approaches like group lending and collateral-free loans, which made it possible for many to lift themselves out of poverty and build sustainable livelihoods. The World Bank and IMF are large international institutions with broader roles, not a country-specific microfinance bank, and the Bangladesh Rural Savings Bank isn’t the same organization. So Grameen Bank is the one founded in Bangladesh in 1983 that specializes in microfinance.