 Professor Pier Ugo, Mr. Romano Prodi and Professor H. I. Latifee at Bologna University
Grameen Trust (GT) conducted a Fact Finding Mission from September 21-28, 2008, to study the possibility of setting up a Grameen microcredit program in Italy. Professor H.I.Latifee, Managing Director, GT conducted the mission with the support from Interdepartmental Center for Research and Intervention on Groups (CIRIG) and Microfinance International Observatory (MIO) at the University de Bologna.
Professor Luisa Brunori, Director, CIRIG accompanied Professor Latifee during his visit to the poverty pockets of Bologna and Modena provinces. The mission met with the potential clients and visited some of their houses. It also met with the migrant people. All of them welcomed the Grameen microcredit initiative wholeheartedly.
As a part of the Mission, Professor Latifee met a cross section of people including Mr. Romano Prodi, the former Prime Minister of Italy; Professor Pier Ugo Calzolari, Rector of Bologna University, many other Professors from Bologna and Modena Universities interested in poverty issue, students and social workers. The mission had fruitful meetings with UNIDEA Foundation on the possible institutional options of the proposed Grameen microcredit company in Italy to be known as `Grameen Italy'.
Professor Latifee also met with the officials of the Central Bank of Italy in Rome and discussed with them the legal options and the regulatory issues related to the establishment of Grameen Italy to provide the financial services to low income people.
Report by Tasmina Rahman
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 A Grameen borrower in Costa Rica
ACRG operates in 163 communities in Costa Rica. During the month of August 2008 ACRG added 173 new members, bringing the total number of members to 5,928. The project has disbursed $1.87 million as loans to its borrowers, who have cumulatively saved US$96,975. The outstanding loans amount to $772,294. ACRG enjoys a 100% repayment rate.
ACRG has proposed an ambitious three year plan for its second phase. ACRG plans to open its fourth branch in 2009. ACRG looks forward to adding 4300 new members in 2009, hoping to bring the total to 11300 members. According to the plans for the new phase, ACRG hopes to disburse $1,725,000 as loans to the borrowers, with $25,000 as micro enterprise loan. As part of the expansion plans, the number of field assistants will be increased from 8 in 2008 to 13 in 2009, and the number of managers from 3 to 4. In 2010, ACRG expects to add 5800 new members, raising the total to 17,100 and add another 11,900 member in 2011, bringing the cumulative number of members to 29,000, and hopes to disburse more than US$5 million. By 2011 ACRG hopes to employ 19 field assistants.
Report by Mandana Mahdukht Ali |
