In a groundbreaking move aimed at bolstering entrepreneurship and uplifting communities, Grameen America has announced a historic investment of $4 billion in affordable loan capital directly targeted towards women entrepreneurs in financially underserved areas.
This announcement underscores the organisation’s unwavering commitment to fostering economic empowerment and gender equality, aligning with its mission to drive positive social change through entrepreneurship.
Grameen America, inspired by the visionary model of Nobel Laureate Prof Muhammad Yunus, follows the successful Grameen Bank Model, renowned for its transformative impact on millions globally. Prof Yunus, serving as chairman of Grameen America Inc, continues to guide the organisation in its mission to combat poverty through entrepreneurship.
This significant investment marks a monumental milestone, with Grameen America allocating an unprecedented $1 billion in capital to women-owned businesses within a single year. The rapid expansion of the organisation solidifies its position as the fastest-growing microfinance institution in the US.
Since its establishment in 2008, Grameen America has disbursed $4 billion, empowering over 190,000 women across 27 US cities. Looking ahead, the organisation aims to further amplify its impact, with plans to increase annual investments to $5 billion by 2030.
Andrea Jung, president and CEO of Grameen America, expressed her pride in this monumental achievement, emphasising the profound impact of affordable financial services on women’s economic mobility and community development. She reiterated the organisation’s steadfast dedication to breaking down barriers and providing accessible capital to women entrepreneurs, regardless of collateral or credit history.
Grameen America’s groundbreaking investment serves as a beacon of hope and opportunity for women entrepreneurs across the nation, signalling a transformative shift towards greater economic empowerment and inclusivity.
