SME's & Micro Credit-How Can Mauritius Replicate the Case of Grameen Bank

Abstract

During early 70s, Professor Muhammad Yunus tried to propose a mechanism which can eradicate or reduce poverty especially by dodging all the main hurdles in lending money to poorest and the neediest people in the societies. He tried to make this a reality by conducting experiment during 1976, in which he lent money to 42 village women in Bangladesh and the amount was $27 each. After 30 years, Grameen Bank was successful in encouraging 3.2 million borrowers out of which 95% were women, over 1000 branches, facilities in more than 40,000 villages as well as the assets worth of more than $3 billion.