Muhammad Yunus Joins Launch of Project to Help the World’s Poorest Borrowers Avoid High Interest Rat
Nobel Peace Prize Laureate Muhammad Yunus joined in announcing the launch of MicroFinance Transparency, a non-governmental organization designed to make public the interest rates charged by microcredit lenders around the world, offering a much-needed form of consumer protection to the world’s poorest borrowers.
Professor Yunus joined in introducing the US-based, independent NGO here at the annual gathering of the Microcredit Summit Campaign, a Washington, DC-based network of more than 3,600 of the world’s leading institutions providing tiny loans to 133 million poor clients, mostly in developing nations. Also attending the conference were Indonesian President Susilo Bambang Yudhoyono, Honduran President Manuel Zalaya Rosales, South African First Lady Mrs. Zanele Mbecki, and former Peruvian President Alejandro Toledo.
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