Achievement Express

History and evolution of the modern microcr microcr modern history begins in the '70s with four entities: in 1970, Bank Dagang Bali (Indonesia) in 1971 in Colombia Opportunity International, ACCION International in 1973 in Brazil, and in 1976, Grameen Bank in Bangladesh. While the concept of cooperative cr at low or no interest focused on promoting economic independence and reciprocal cooperation is not new in political economy, the concept of microcr was born as a proposal of Dr. economics professor Muhammad Yunus, who started his poverty in 1974 during the famine suffered by the people of his native Bangladesh, one of the world's poorest countries. Yunus discovered that each small loan could produce a substantial change in the chances of someone with no other resources to survive.The first loan he gave was 27 from his own pocket for a woman who made bamboo furniture, sale of which benefits itself and impacted his family. However, traditional banks were not interested in making such loans because they believed that there was a high risk of not getting paid the money back. In 1976, Yunus founded the Grameen Bank to make loans to the needy in Bangladesh. Since then, Grameen Bank has distributed over three billion dollars in loans to 2.4 million borrowers. To ensure repayment of loans, the bank uses a system of "solidarity groups" small informal groups together borrowers and whose members act to secure repayment of the loan and support each other in an effort to economic improvement. According to the project has grown, the Grameen Bank has developed other alternative cr systems to serve the needy.In addition to microcr, it offers housing loans, financing for irrigation projects, textiles, fishing and other activities. In the mid-70s, the first organisms that began to give or organize microcr were NGOs. In the early 80s these agencies began to see fruits of this process, many of them began to realize that this effort could be sustainable because the recovery of portfolio (debt) was almost perfect. Since these organizations are the equilibrium point (micro sufficient to pay the fixed cost) growth of these programs operates. In the '70s, the model was sustained through donations from philanthropists around the world and coordination was through NGOs. In the 80s the pattern changed slightly, NGOs formed strategic alliances with local banks to provide limited funding while they provide the guarantees and coordination of resources. From the 90s this model also evolved.The banks involved in the process realized that it was a profitable business and began to develop mechanisms to serve this market.