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Tuesday, June 19, 2012

[chottala.com] Norwegian aid agency Norad won't back micro-lenders



Norad won't back micro-lenders
Tue, Jun 19th, 2012 11:43 pm BdST
 
Nurul Islam Hasib 
bdnews24.com Senior Correspondent 


Dhaka, Jun 19 (bdnews24.com) – In a major policy shift, the Norwegian aid agency will no longer fund new microfinance institutions after nearly 15 years as a key donor to the controversial anti-poverty scheme, especially in Bangladesh.

"With an exception for South Sudan, Norad will no longer finance new MFIs (microfinance institutions)," Norway's state TV NRK said on Tuesday. 

"Norad's focus within microfinance will be in raising competence and building institutions that can improve the microfinance industry as a whole," a foreign ministry spokesperson was quoted as saying in the TV report. 

Norad has been an important donor in different countries to microfinance institutions for more than a decade. 

The announcement from Oslo comes months after a Bangladesh government-instituted panel of inquiry pointed out massive mismanagement and institutional inefficiency in Grameen Bank's way of running the micro-lending business. 

A NRK documentary in Dec 2010 hit major headlines in Bangladesh when it raised questions about a 1998 decision of the Norwegian authorities to classify correspondences with Muhammad Yunus. 

The then Norwegian ambassador in Dhaka objected to Grameen's transfer of funds to an unknown sister concern without consent of the Norad. 

The ambassador also lodged a strongly-worded complaint with the Bangladesh government about the Grameen Bank's failure to follow agreed guidelines in using the tens of millions of dollars that Norad had given the Yunus-run bank. 

Yunus then took the issue to Oslo and was able to secure a deal marking these correspondences 'confidential'. 

The Dec 2010 NRK documentary by Danish journalist Tom Heinemann revealed those documents, leading to inquiries in Bangladesh into the Grameen operations and removal of the Nobel laureate as its chief executive. 

Yunus put up a robust defence backed by local and international media but lost a crucial legal battle in Supreme Court to retain his job as the Grameen managing director and head of the massive Grameen empire he had ruled for years with absolute authority. 

Tuesday's TV report said Norad was also responding to the latest research on the effectiveness of micro-credit as an anti-poverty tool. 

"Norad is well aware of the new research in the microfinance area, including the systematic reviews. 

"Norad pays close attention to the global trends within microfinance, and this includes research on the effects of microfinance," the TV report said. 

"Norad is well aware of the discussions that go on, on the possible need for credit checks, a possible credit register, regulations of the sector on national level and new systems to ensure openness and transparency in the sector," the foreign ministry spokesman in Oslo said. 

Norad works under the umbrella of the ministry and is not allowed to give public statements on such issues. 

"This shift of focus away from directly funding projects, reflects the development in the global microfinance sector, with more competition and the addition of commercial capital," Trond Viken, the spokesman, said. 

"Many of the established microfinance institutions (MFIs) are making money of their own these days, and do not need government funding to manage," according to the Norwegian TV report broadcast on Tuesday. 

"Commercial players are entering the scene as well. 

"Some examples of this trend are the insurance company Storebrand and the investment company Ferd from Norway. 

"The need for funding in form of development aid budgets has decreased." 

The state-run NRK in its report spoke of its failure to quiz the country's former minister for international development who was in office when the TV station took the lid off the decade-old Grameen fund transfer controversy. 

"NRK has on several occasions tried to interview former Norwegian minister of development and environment, Erik Solheim, regarding his attitude towards microfinance. 

"We have especially wanted to ask him about the relationship between Nobel Peace Prize winner Mohammad Yunus and Grameen Bank on one side, and Norad on the other. 

"Among other issues, NRK wanted to know why Norwegian authorities for several years did not publish that there had been controversies over the transfer of Norwegian aid money between two Yunus-controlled companies at the end of the 1990s." 

bdnews24.com/nih/gna/2318h.

  1. Yunus 'siphoned Tk 7bn aid for poor' | Bangladesh | bdnews24.com

    Dec 1, 2010 – An investigative foreign TV documentary "Fanget i Mikrogjeld" or ... on the National Norwegian Television, NRK shows 'the banker to the poor' ...
  2. Grameen's Yunus in Cash Scandal « Microfinance Horizon

    Dec 5, 2010 – DHAKA – Claims that Muhammad Yunus, who was awarded the ...documentary Fanget i Mikrogjeld (Caught in Micro debt)", on NRK, the ...
  3. Dr. Yunus siphoned TK 7bn aid meant for poor :Documentary unveils

    www.allvoices.com/.../7492220-dr-yunus-siphoned-tk-7bn-aid-mean...
    Dec 1, 2010 – Dr. Yunus siphoned TK 7bn aid meant for poor :Documentary unveils ...'Caught in Micro debt' aired on Tuesday on Norwegian State TV, NRK.

Norway examining 'aid anomalies' by Grameen

Dec 3, 2010 – Image: Grab from NRK documentaryStar Report ... But Dr MuhammadYunus, founder of the Bank, has defended himself saying this had been ...
 
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Tax Cheating by GrameenPhone : Nation lost 730 Crore Taka ... !!!!!!



GP hearing embarrasses chamber judge

গ্রামীণফোনের স্পেকট্রাম ফি শুনানিতে বিব্রত বিচারক:




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[chottala.com] BCCDI Bangla School listed in the Arlington County Public School Website



Dear

BCCDI Enthusiasts,

We are very excited to inform you that BCCDI- Bangla School has honored by listed in the Arlington County Public School Website. It is a great achievement, recognition and a mile stone in the history of BCCDI. Now millions of people from different ethnicity and cultural community will access and learn about BCCDI and Bangla School. Please visit the link below for more info.

http://www.apsva.us/Page/3038

BCCDI Board or directors and some community activists are working strongly to get a permanent location for BCCDI office and Bangla School premise with the County and hopefully will be resulted positive very soon.

BCCDI board of directors also expecting very shortly BCCDI and Bangla School will be listed as one of the recognized organization of United Nation and will receive all kinds of benefits from UN.

Special note: It is to mention you that, Honorable Mr. Michael Korf assistant superintendent of Arlington County Public School represented for Ms. Abby Raphael, Superintendent of Arlington Public School was one of the special guest in the BCCDI's 22nd Upohar Mela-2012. We are very grateful to Mr. Michael Korf for his attention to BCCDI and Bangla School.

Thank you very much to all dedicators of BCCDI and community activists for your sincere and honest work for the community.

Sincerely,

On behalf of BCCDI Board of Directors

Mizanur Bhuiyan

202-213-1990

President-BCCDI



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* Disclaimer: Any posting to the CHOTTALA are the opinion of the author. Authors of the messages to the CHOTTALA are responsible for the accuracy of their information and the conformance of their material with applicable copyright and other laws. Many people will read your post, and it will be archived for a very long time. The act of posting to the CHOTTALA indicates the subscriber's agreement to accept the adjudications of the moderator]




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