The day after the color revolution in Bangladesh, Mohammed Yunus, founder of the Grameen bank, a darling of the west, and a favorite of the Clinton foundation was coronated as “Chief advisor” to the new interim government. To understand the man, and how he will govern in Bangladesh, it is important to understand his history.
Before occupying his newest role as Bangladeshi Juan Guaido, Mohammed Yunus rose to fame in the 1990s, for his Grameen bank, a bank whose purpose was to give micro-loans to poor people. It eventually expanded to create a cottage industry with his Grameen Telecom, Grameen Fisheries, Grameen Danone Food and more!
In his effort to promote the Grameen Bank, Mohammed Yunus has made outrageous claims about his micro-loan program. He once said, Poverty will be eradicated in a generation. Our children will have to go to a `poverty museum’ to see what all the fuss was about.
Even after 40 years of founding his ‘revolutionary’ institution, Bangladesh remains as poor as ever with 71.4% of the population living on less than $5.50 a day, while 1.3 million children are engaged in child labor. Sadly, people in Bangladesh experience poverty first-hand, and life, itself, is the poverty museum.
- https://www.historicly.net/p/the-mythology-behind-the-grameen