The Turkish Grameen Microcredit Program, applying the Grameen microcredit model developed jointly by the Turkish Foundation for Waste Reduction of Turkey and 2006 Nobel Peace Prize Laureate Professor Dr. Muhammad Yunus and working in direct collaboration with him, was launched in Diyarbakir on July 18, 2003 with the first microcredit checks given out by Prime Minister Mr. Recep Tayyip Erdogan.
To date, the Program runs successful operations in Diyarbakir(with 6 branches), Kahramanmaras(5 branches), Sanliurfa(3 branches), Eskisehir(2 branches), Mardin(2 branches), Batman(2 branches), Hatay(2 branches), Gaziantep(2 branches), Aydin, Nigde, Ankara, Cankiri, Malatya, Yozgat, Zonguldak, Amasya, Corum, Samsun, Siirt, Denizli, Konya, Erzincan, Artvin, Manisa, Muğla, Kayseri, Isparta, Bingol, Bursa, Burdur, Bilecik, Tokat, Kirsehir, Sivas, Rize, and Balikesir.
The objective of the Turkish Grameen Microcredit Program is to expand the microcredit operations to every Turkish city by the end of year 2010.
As of November 11, 2009, the Turkish Grameen Microcredit Program operates in 33 cities with 52 branches and loaned over 38 million Turkish Liras in microcredit to near 28.000 poor Turkish women on a pure trust basis, without requiring any collateral or security The return rate on these microcredit loans is 100%.
The Grameen microcredit application, which works to alleviate poverty in 175 countries including Turkey:
•Has won the 2006 Nobel Peace Prize.
•Has been declared “One of the 10 Ideas that Changed the World” by the Time magazine, as depicted on the cover of the March 24, 2008 issue.
•On December 2, 2008, the Turkish Grameen Microcredit Program, which works jointly with Professor Yunus’s Grameen Trust, won the European Union Award for its Kahramanmaras application out of a nominee pool of 47 countries and 600 projects.
The Board of Directors, Trustees, Inspection Committee and President of...