Grameen Bank, the micro-credit financier initially set up to help the poorest in Bangladesh, has opened its first branch in the United States. The Bangladesh-based outfit known as the poor people’s bank plans to hand out loans to the less well-off in one of the most ethnically-diverse neighbourhoods in the US. Muhammad Muhammad Yunus, who founded the bank in 1976, said the branch in Queens, New York City, was to cater to thousands of new immigrants without access to basic banking services. “They think ‘What you come from Bangladesh to do banking in NYC? That sounds so ridiculous. “This is [the] city where [the] whole world learnt banking from’.” But the Nobel laureate said New York also had its share of poor people just like any other city “so we are actually working in [a] third world” environment.