Question

Grameen Bank extends credit to the very poor to give them the opportunity to build better lives. Other businesses target poor people as a source of potential profits (including some micro-lenders in other parts of the world as discussed in one of your videos).

Answer 1

Step-by-step explanation:

Grameen bank is one of the pioneers in the world of Micro Finance Institutes, which not only provides the poor with access to financial capital but also helps them build a better business which allows them to escape from the poverty cycle. This lead to an overall upward economic movement in the society, improving the economic condition of a country as a whole. Through these micro finance loans, a number of SMEs (Small and Medium Enterprises) emerges which further provide employment opportunities to other people thus starting a virtuous cycle of economic growth.

As the economic condition of the poor becomes better, these poor people inturn becomes customer for these business for other products thus being a huge source of profit.