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Microfinance is a term for the practice of providing financial services, usually very small loans, to developing economies. Suggested by the name, most transactions involve small amounts of money, frequently less than 100 USD.
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Dr. Muhammad Yunus (Bengali: মুহাম্মদ ইউনুস, pronounced Muhammôd Iunūs) (born June 28, 1940), is a Bangladeshi banker and economist. He is the developer of the concept of microcredit, (founded by Pakistani Dr. Akhter Hameed Khan ), the extension of small loans to entrepreneurs too poor to qualify for traditional bank loans. Yunus is also the founder of Grameen Bank. In 2006, Yunus and the bank were jointly awarded the Nobel Peace Prize, "for
their efforts to create economic and social development from below."
In post-conflict and low intensity environments economic development and/or reconstruction will be needed. While there is, and will continue to be a need, for large multi-million and multi-billion dollar programs, there is also a need support economic activity at the lowest level. Microfinance programs will support that effort.