Joint Collaboration Programs
Asociacion Civil Guatemalteca Grameen Credit (ACGGC) is a Build - Operate and Transfer project of Grameen Trust that was set up in December 2005 in order to provide financial services through microcredit for poverty alleviation in Guatemala with financial assistance from the Whole Planet Foundation. ACGGC performed exceptionally well over the course of two years reaching 6,617 clients against the target of 4,500 members. ACGGC disbursed a total of US$ 1, 489, 414 and maintained 100% repayment rate.
During the visit of Ms. Wendy W.de Berger, the then First Lady of Guatemala, in April 2007, she proposed a partnership between ACGGC, Creciendo Bien and Banrural which is one of the largest bank in Guatemala to reach out to more poor people of Guatemala. On November 17, 2007 a Memorandum of Understanding was agreed between Banrural, Whole Planet Foundation, ACGGC and Grameen Trust. The signing ceremony was held at the Presidential Palace on December 11, 2007 at the presence of Professor Muhammad Yunus. Following the agreement Banrural set up a Banrural Grameen Division to implement the Grameen microcredit program nationwide. Mr. Alomgir Hossain, the former Director of ACGGC, has been appointed as the Director of Banrural Grameen Microfinanza. Four Grameen resource persons of ACGGC have been appointed as trainers and regional managers of the new initiative.
As per the agreement, Banrural will provide the financial resources and Grameen Trust will provide technical assistance and manage the operations through the Grameen resource persons on the ground. Banrual Grameen Microfinanza hopes to serve 100,000 borrowers with Grameen microcredit by 2010.
Despite of falling poverty rates, still about 10% of the population of 1.3 billion people live below the poverty line in China. There is now growing demand for microfinance intervention following Grameen methodology to alleviate poverty in China.
Grameen Trust and Hainan Rural Credit Union, China, signed a Memorandum of Understanding in the presence of Nobel Laureate Professor Muhammad Yunus in December 2007. Under this agreement, Grameen Trust will implement Hainan Microcredit Program in Grameen Bank Model with the financial assistance from Hainan Rural Credit Union. It is expected that this collaboration will result in a positive contribution in the field of poverty alleviation in China.