Title: Microfinance
Content:  getting the people out of poverty. Independently of Spooner, Friedrich Wilhelm Raiffeisen founded the first cooperative lending banks to support farmers in rural Germany. The modern use of the expression "microfinancing" has roots in the 1970s when Grameen Bank of Bangladesh, founded by microfinance pioneer Muhammad Yunus, was starting and shaping the modern industry of microfinancing. The approach of microfinance was institutionalized by Yunus in 1976, with the foundation of Grameen Bank in Bangladesh. Another pioneer in this sector is Pakistani social scientist Akhtar Hameed Khan. Since people in the developing world still largely depend on subsistence farming or basic food trade for their livelihood, significant resources have gone into supporting smallholder agriculture in developing countries.
Title: Micro-enterprise
Content:  The concepts of micro-enterprise and microfinance were pioneered in 1976 by Nobel Prize recipient Muhammad Yunus, founder of the Grameen Bank (Bank of the Rural), in Bangladesh. The bank was established for the purpose of making small loans to the poor − predominantly women – to help them obtain economic self-sufficiency. The fundamental principle behind the Grameen Bank is that credit is a human right. This strategy was highly effective as the bank grew exponentially; from fewer than 15,000 borrowers in 1980, Grameen Bank had 2.34 million members by 1998, 7.67 million at the end of 2008, 97% of whom are women, and 9.4 million today.
Title: Microfinance
Content:  Over the past centuries, practical visionaries, from the Franciscan friars who founded the community-oriented pawnshops of the 15th century to the founders of the European credit union movement in the 19th century (such as Friedrich Wilhelm Raiffeisen) and the founders of the microcredit movement in the 1970s (such as Muhammad Yunus and Al Whittaker), have tested practices and built institutions designed to bring the kinds of opportunities and risk-management tools that financial services can provide to the doorsteps of poor people. The history of microfinancing can be traced back as far as the middle of the 1800s, when the theorist Lysander Spooner was writing about the benefits of small credits to entrepreneurs and farmers as a way 
Title: Microcredit
Content:  The origins of microcredit in its current practical incarnation can be linked to several organizations founded in Bangladesh, especially the Grameen Bank. The Grameen Bank, which is generally considered the first modern microcredit institution, was founded in 1983 by Muhammad Yunus. Yunus began the project in a small town called Jobra, using his own money to deliver small loans at low-interest rates to the rural poor. Grameen Bank was followed by organizations such as BRAC in 1972 and ASA in 1978. Microcredit reached Latin America with the establishment in Bolivia in 1986 of PRODEM, a bank that later transformed into the for-profit BancoSol. In Chile, BancoEstado Microempresas is the primary microcredit institution. Microcredit quickly became a popular tool for economic development, with hundreds of institutions emerging throughout the third world. Though the Grameen Bank was formed initially as a non-profit organization dependent upon government subsidies, it later became a corporate entity and was renamed Grameen II in 2002. Yunus was awarded the Nobel Peace Prize in 2006 for his work providing microcredit services to the poor.
Title: Microfinance
Content:  provide loans to poor people with the goal of creating financial inclusion and equality. Ela Bhatt had initiated women's own SEWA Cooperative Bank in 1974 in Ahmedabad, Gujarat, perhaps one of the first modern day microfinance institution of its kind. Muhammad Yunus, a Nobel Prize winner, had introduced the concept of Micro-credit in Bangladesh in the form of the "Grameen Bank". The National Bank for Agriculture and Rural Development (NABARD) looked at several models for offering financial services to the unbanked, especially women, and decided to experiment with a very different model, now popularly known as Self-help Groups (SHGs). In this approach, a small group of women (and 
Title: Microcredit
Content:  percent. Microcredit is part of microfinance, which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983. Many traditional banks subsequently introduced microcredit despite initial misgivings. The United Nations declared 2005 the International Year of Microcredit. As of 2012, microcredit is widely used in developing countries and is presented as having "enormous potential as a tool for poverty alleviation." Microcredit is a tool that can be helpful to possibly reduce feminization of poverty in developing countries. However, critics—some in the distant past —argue that microcredit has not had 
Title: Microcredit
Content:  Microcredit organizations were initially created as alternatives to the "loan sharks" known to take advantage of clients. Indeed, many microlenders began as non-profit organizations and operated with government funds or private subsidies. By the 1980s, however, the "financial systems approach", influenced by neoliberalism and propagated by the Harvard Institute for International Development, became the dominant ideology among microcredit organizations. The neoliberal model of microcredit can also be referred to as the institutionist model, which promotes applying market solutions as a viable way to address social problems. The commercialization of microcredit officially began in 1984 with the formation of Unit Desa (BRI-UD) within the Bank Rakyat Indonesia. Unit Desa offered 'kupedes' microloans based on 
Title: Microfinance Focus
Content:  Microfinance Focus is an English-language microfinance international online news media and publication company based in Bangalore, India. Started in July 2006, Microfinance Focus publishes news and articles daily and is considered as a resource centre for the microfinance sector globally. Vikash is the founder of Microfinance Focus. Microfinance Focus has also been conferred "Microfinance Community Knowledge Promoter Award 2007 for Outstanding Community Support" by Solution Exchange (a wing of UN, India) in the year 2007.
Title: Microcredit
Content:  Though lending to groups has long been a key part of microcredit, microcredit initially began with the principle of lending to individuals. Despite the use of solidarity circles in 1970s Jobra, Grameen Bank and other early microcredit institutions initially focused on individual lending. (A solidarity circle is a group of borrowers that provide mutual encouragement, information, and assistance in times of need, though loans remain the responsibility of individuals. )Indeed, Muhammad Yunus propagated the notion that every person has the potential to become an entrepreneur. Yunus saw poverty eradication as being in the hands of the individual. Because of this, he promoted private ownership, and consequently, neoliberalism. The use of group-lending was motivated by economics of scale, as the costs associated with monitoring loans and enforcing repayment are significantly lower when credit is distributed to groups rather than individuals. Many times the loan to one participant in group-lending depends upon the successful repayment from another member, thus transferring repayment responsibility off of microcredit institutions to loan recipients.
Title: Results (organisation)
Content:  RESULTS helped introduce microcredit to America. In 1987 Muhammad Yunus, who was later awarded the Nobel Peace Prize for pioneering the concepts of microcredit and microfinance, was visiting the United States and speaking to a congressional committee. After the hearing RESULTS connected Yunus on conference calls with twenty-eight editorial writers resulting in editorials that helped ensure the passage of legislation that allocated $50 million for microcredit programs for the poor.

Question: the concept of micro financing was developed by who in 1976?
Answer: Muhammad Yunus.