Citigroup to give loans to Bangladeshi beggars

Thursday, February 9, 2006

DHAKA, Bangladesh (AFP) – Beggars in impoverished Bangladesh are to receive interest-free loans from US banking giant Citigroup to help them become self-employed, the bank said in a statement.?

The bank has donated 250,000 dollars to expand a four-year-old project run by micro-finance pioneer Grameen Bank. Grameen is credited with developing a unique microcredit system that has been used by some five million people in Bangladesh and replicated worldwide over the last 30 years. “Project Dignity aims to improve living standards for more than 2,500 beggars across the country and help them to find ways to lift themselves out of poverty,” the US financial giant said in the statement.”

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Source: Yahoo! News (link opens in a new window)