TWENTY-TWO CENTS: Muhammad Yunus and the Village Bank
By Paula Yoo
Illustrated by Jamel Akib
Growing up in Bangladesh, Muhammad Yunus witnessed extreme poverty all around and was determined to eradicate it.
In 1976, as an Economics professor, Muhammad met a young craftswoman in the village of Jobra who needed to borrow five taka (twenty-two cents) to buy materials. No bank would lend such a small amount to an uneducated woman, so she was forced to borrow from corrupt lenders who charged an unfair interest rate, and left her without enough profit to buy food. Muhammad realized that what stood in the way of her financial security was just a few cents. Inspired, Muhammad founded Grameen Bank where people could borrow small amounts of money to start a job, and then pay back the bank without exorbitant interest charges.
Over the next few years, Muhammad's compassion and determination changed the lives of millions of people by loaning the equivalent of more than ten billion US dollars in micro-credit. This has also served to advocate and empower the poor, especially women, who often have limited options. Twenty-two Cents is an inspiring story of economic innovation and a celebration of how one person, like one small loan, can make a positive difference in the lives of many.
This book is also available in chapter book form as part of Lee & Low Books' new series, "THE STORY OF..." You can order it here: https://www.leeandlow.com/books/the-story-of-banker-of-the-people-muhammad-yunus
- Hardcover publication date: September 4, 2014
- Hardcover Trade ISBN: 978-1600606588
- Reading level: Ages 6-11 (children's non-fiction picture book biography)
- Publisher: Lee & Low Books
2014 Junior Library Guild Selection
2014 CCBC Choices Annual Best Children's Books of the Year - Cooperative Children's Book Center
2015 Best Children's Books of the Year - Bank Street College of Education
2015 Notable Books for a Global Society - Children’s Literature & Reading Special Interest Group of the International Reading Association
2015 Best Multicultural Books - Center for the Study of Multicultural Children's Books
2015 Skipping Stones Honor Award - Skipping Stones: An International Multicultural Magazine
2015 South Asia Book Award - South Asia National Outreach Consortium
2015 2015 Social Justice Literature Award - International Literacy Association