Thirty years ago, Professor Muhammad Yunus left the classroom where he had been teaching economics and ventured out into the poor rural villages of his native Bangladesh to discover what prevented these hard-working people from escaping poverty. In one village, Professor Yunus found that for a total of just 27 dollars, he could make life-changing loans to 40 women. Thus was born the idea of microcredit - giving very small loans to poor people to allow them to start successful businesses.
Today, Professor Yunus directs the Grameen Bank, which has made microloans for income-producing projects to millions of poor people, mainly women, enabling them to lift their families out of poverty. Together, Yunus and Grameen Bank were awarded the 2006 Nobel Peace Prize for their pioneering work. Microcredit has now become a worldwide phenomenon. Pennies a Day tells the inspiring story of how one poor family - and their entire village - escaped poverty with the aid of small loans from Grameen Bank.
Pennies a Day covers numerous educational standards across several subject areas including ELL, Media/Technology, Language Arts, Social Studies, and World Languages for Grades 4-12.