Grameen America has announced an investment of $4 billion in affordable loan capital directly to women entrepreneurs in financially underserved communities.
This investment demonstrates the organisation’s commitment to empowering women and fostering community development, according to a media release of sent by Yunus Centre on Tuesday.
Founded on the visionary idea of Nobel Laureate Professor Muhammad Yunus, Grameen America follows the successful Grameen Bank Model, which has transformed the lives of millions worldwide. Professor Yunus serves as the Chairman of Grameen America Inc., guiding the organisation’s mission to alleviate poverty through entrepreneurship.
This milestone represents a significant stride forward, with Grameen America providing an unprecedented $1 billion in capital to women business owners within a single year.
The organisation’s rapid growth solidifies its position as the fastest-growing microfinance organisation in the United States.
Since its inception in 2008, the Grameen America has disbursed $4 billion to empower more than 190,000 women across 27 US cities. By 2030 it will reach a level of investing $5 billion a year.
Andrea Jung, President and CEO of Grameen America, expressed her pride in this remarkable achievement, stating, “Disbursing $4 billion in loan capital stands as a monumental achievement-a testament to the dedication of our staff, members, and partners. While we take pride in this accomplishment, we recognise an ongoing and substantial need for affordable financial services on a national level.”
She said they are proud to offer access to affordable capital without barriers like collateral or credit history and witness the tremendous impact these investments have on women’s economic mobility, their children’s lives, and community development.
