This book is an introduction to Grameen II, an improved and flexible version of the classical Grameen model that is currently being used to financially empower the poorest families in more than a hundred countries across the globe through savings and loans. It describes how a flagship institution such as Grameen Bank accomplished a complete and effective overhaul of its system. The Poor Always Pay Back demystifies Grameen II to policymakers, practitioners and the larger development community and shows that, through the use of Grameen II, Grameen Bank is addressing the frontier issues in microfinance: open access savings, flexible loan products, self reliance and absence of donor dependency for funds, and product development to cater to the needs of the retirees (Grameen Pension Scheme) and their adult children (Higher Education Loans).

Introduction --Classical Grameen and its impacts -- Loan products under Grameen II -- Savings mobilization: from one taka to 3000 billion taka -- Archeology of Grameen II -- Staff incentives and implementation of Grameen II -- The education loan and a program for the poorest -- Conclusion.