DHAKA, Oct 11, 2024 (BSS) - Chinese Ambassador to Bangladesh Yao Wen today lauded contribution of Grameen Bank in enhancing the well-being of common rural people in Bangladesh.

The appreciation came when he paid a visit to Grameen Bank's Jobra branch and museum in Chattogram along with his spouse Li Yu, a Chinese embassy’s press release said here.

The envoy made the visit to gain insight into the institution's impact on poverty alleviation and social development in Bangladesh.

The Chinese delegation expressed their appreciation for Grameen Bank's role in improving the livelihoods of Bangladesh’s rural population, recognizing it as a significant model for poverty alleviation and economic empowerment.

During their visit, the Ambassador was briefed on the history and evolution of Grameen Bank, founded in 1976 by Nobel Laureate Professor Muhammad Yunus, the current Chief Adviser of the Bangladesh’s interim government.
   
Initially launched as a pilot project in Jobra village under Chattogram district, the initiative aimed to empower marginalized communities through microcredit.

By 1983, the project was formalized into a bank, with a mission to alleviate poverty and promote financial inclusion for the underserved.

The visit reflects growing cooperation between China and Bangladesh in areas of social and economic development, the release added.