'People died due to hunger. Our country experienced a huge famine. 1.5 million people died,' says Chief Adviser Professor Muhammad Yunus..
Chief Adviser Dr Muhammad Yunus became overcome with emotion while recalling the 1974 famine during his speech on Wednesday at the official inauguration ceremony of the Bangladesh Investment Summit 2025 at the InterContinental Dhaka.
The chief adviser said: "In 1971, the birth of an independent country came at the cost of lives. Today, Bangladesh has a population of 180 million, whereas back then, it was one-third of that. Then came 1974."
After making the statement, Yunus became emotional, fell silent for a few moments, and with tears in his eyes, resumed speaking.
He continued: "People died due to hunger. Our country experienced a huge famine. 1.5 million people died. That was the reality of independent Bangladesh."
Yunus said: "Back then, we used to grow only one crop each year. We didn’t know any other way. The people of our country were known as farmers because they had no other profession. And three-quarters of them did not own any land. They grew just one crop to survive. Life was extremely tough. If you observe the journey from 1974 to 2025, you'll see it has been a remarkable one.
“We are now discussing big industries, foreign companies wanting to establish factories here, talking about large markets, and engaging with the youth. In a very short period, Bangladesh has come a long way."

He mentioned that during the famine, an initiative was taken to provide microloans to poor people so they could start their own businesses.
He emphasized that these loans were primarily given to women. "This was the microcredit program. We established Grameen Bank. At that time, we had no idea what path it would take. It eventually became a globally recognized name."
Addressing the investors, Yunus said: "No matter which country you live in, a small 1974 resides within you. You may try to hide it, but you can’t deny it. I’ve always said that providing money to the poor is not a solution. The solution lies in building infrastructure and unlocking the potential of the people. Microcredit was a small initiative. A strange plan was made to issue a government telephone license."
Recalling the history of Grameenphone’s launch, the chief adviser said: "We didn’t need telephones at that time. Most of them didn’t work. So, why would a telephone company need a license? The government asked: 'What will you do with a telephone company?' I said: 'We will give it to poor women.' We got the license, and after Grameen Bank, Grameenphone was established."