Dr. Muhammad Yunus founded the Grameen Bank in 1983 in Bangladesh to provide microloans to the poor, especially women. He believed that small loans could help lift people out of poverty by enabling self-employment. The bank has grown significantly and now has over 8 million borrowers, most of whom are women. It provides banking services to rural villages and helps create opportunities for investment and income generation among impoverished communities. Dr. Yunus received several honors for his work, including the Nobel Peace Prize in 2006.