Wednesday, April 19, 2006
Speakers at a seminar here on Monday called upon the private and state-run commercial banks to provide all assistance for the micro-finance institutes (MFIs) in credit operation to cut poverty in the country.
Commercial banks can earn huge profit from this sector as loan recovery is 95-99 per cent in micro-credit system and the poor people invest the credit in various income generating activities, they added.
Credit and Development Forum (CDF) organised the seminar on “Loan guarantee scheme of Grameen Foundation, USA (GFUSA)” at the PIB conference room with CDF Chairman Dr Atiur Rahman in the chair.
Deputy Director of Capital Markets of GFUSA Ms Regula Schegg presented the keynote paper.
The seminar said in human terms, more than 75 per cent of the world’s 560 millions poor families lack access to efficient, affordable and appropriate financial services.
Market demand for micro-finance services is estimated at more than US dollar 300 billion, while supply is only US dollar 15 billion, it added.