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Dhaka Tribune

Grameen America invests $4b in women entrepreneurs

  • By 2030 it will reach a level of investing $5 billion a year
  • Providing $1 billion in capital to women business owners within a year
Update : 27 Feb 2024, 04:03 PM

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 organization’s commitment to empowering women and fostering community development, according to a media release of sent by Yunus Center on Tuesday.

Founded on the visionary idea of Nobel Laureate Prof Muhammad Yunus, Grameen America follows the successful Grameen Bank Model, which has transformed the lives of millions worldwide. Prof Yunus serves as the chairman of Grameen America Inc, guiding the organization'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 organization's rapid growth solidifies its position as the fastest-growing microfinance organization in the US.

Since its inception in 2008, 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, saying: "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 recognize 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.

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