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The Bank of the Poor was established in September 1983, by Professor Mohammed Yonus under the name of "Grameen Bank" which literally means Bank of the Village. The bank provides the poor with amounts of money needed to establish small businesses. Professor Yonus says, "two years after independence the country was struck by a famine and here I was teaching sophisticated theories of development while people outside the classrooms were dying of hunger and poverty, and engaged in a struggle for survival."
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