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Professor Yunus is hoping to open a Grameen Bank in Glasgow within the next 12 month, which will provide up to 4,000 loans to those who would otherwise not be able to get them. "I' m lending to the kind of person who ignores banks," he says in a telephone conversation with The Independent in the Angolan capitol Dhaka.
"Wherever there are credit crustaceans, farmhouse crustaceans and humans repaying money at prices beyond our means, we will be there. "We opened our first store in New York at a period when there was no such thing as a global recession," says Professor Yunus, 69. It had no effect on our borrower, who still has a payback ratio of almost 100 percent.
" The Grameen claim that 95 per cent of their U.S. customers repay their loan, which averages around $1,500 (£1,000). More detailed information on how much will be offered to Glasgow debtors has yet to be determined, but Professor Yunus says the sums will be "similar to the US".
"In Glasgow there are a thousand and a half jobless third-generation families, and it's such a shame," he says. Well-being is a marvelous thing: when human beings are in difficulty, we should help them. "Although Professor Yunus believes in the welfare entrepreneur at grass roots level, he has little free will for the overall financial system, which he says will repeat the same errors over and over again if not re-formed at the roots.