Something I learned after listening to a talk by Matt Flannery, CEO and co-founder of Kiva:
Muhammad Yunus is a Bangladeshi banker and economist. He previously was a professor of economics and is famous for his successful application of microcredit – the extension of small loans. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. Yunus is also the founder of Muhammad Yunus and Grameen Bank. In 2006, Yunus and the bank were jointly awarded the Nobel Peace Prize, “for their efforts to create economic and social development from below.”
Apparently Grameen is going to start a microfinance program in NYC.