Celeste Carvalho

Brazilian entrepreneur who pioneered financial inclusion for marginalized communities

Celeste Carvalho (1925-2001) revolutionized Brazilian finance through her 1957 creation of Banco da Mulher, the first bank exclusively serving women in Latin America. Growing up in Rio's favelas, she recognized systemic barriers to economic participation. Her bank provided microloans without collateral requirements, enabling over 500,000 women to start businesses by 1970.

In 1968 she developed the 'Solidarity Savings Model' which became a blueprint for global microfinance. Her 1963 book 《Economic Empowerment Through Collective Banking》 influenced Muhammad Yunus's Grameen Bank concept. Despite military regime opposition, she expanded operations to 23 states through her mobile banking units. Recent documentaries like 《Coins of Resistance》 (2020) explore her covert operations during the dictatorship. Her legacy continues through the UN Women financial inclusion initiatives.