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KOSOVO

KGMAMF Continues to Rebuild the Lives of War Affected People

Kosovo Grameen-Missione Arcobaleno Microcredit Fund (KGMAMF), a direct implementation project of Grameen Trust, has successfully completed the eleventh year of its operation in 2011. KGMAMF was initiated in June 2000 to help the war-affected people to rebuild their lives through the implementation of a sustainable microcredit program in Kosovo following Grameen Bank Approach.

Borrowers of KGMAMF at Work
Till September 2011, the project has successfully reached a total of 13,409 members and disbursed Euro 46.55 million. KGMAMF is operating in four out of five regions of Kosovo and has been successful in improving the socio-economic conditions of the poor women. It has improved the overall status of women and empowered them. The members of KGMAMF now actively participate in various decision making processes in their families. The project is implementing its program in 187 villages of 17 municipalities of Peje, Prishtina, Prizren and Gjilan. In 2010, the amount of profit earned by the project was Euro 390,920.73.

Since inception, the project has been providing loans for various income generating activities. The maximum loan is given for carrying out business with milch cow and it comprises about 49% of the total loan. Besides basic loan, KGMAMF also provides micro-enterprise loan to its members. Till September 2011, KGMAMF has disbursed a total of Euro 2,099,420 as micro enterprise loans to 380 members. The borrowers utilize the loans for various businesses including carpentry, poultry farm, dairy farm, grocery store, restaurant, milk processing, bakery etc. The highest amount of loan given to a micro-enterprise loanee for gas filling station has been Euro 20,000. On December 24, 2010, KGMAMF has disbursed this loan to Ms. Bahrije Saphiu (Group no. 01, Center no. 30) of Gjilan branch for one year.

KGMAMF has introduced accounting software in all the branches of KGMAMF. It has also signed an agreement with ASSECO, a reputed loan software company in Kosovo, to introduce the loan software in all the branches of KGMAMF by December 2011.

Report by: Tasmina Rahman

USA

Grameen America Expands to The Bronx and Indianapolis
Inauguration Ceremony of the Bronx Branch of GAI

Grameen America, Inc. (GAI) has expanded its operation to new locations. It has opened two new branches in the Bronx, New York, and Indianapolis, Indiana. The Bronx branch started operations in July 2011 and Indianapolis branch became operational in August in this year.

Nobel Laureate Professor Muhammad Yunus formally inaugurated the Bronx branch, fourth branch of Grameen America in New York at a ceremony held at the Bronx Museum on September 26, 2011. Mr. Vidar Jorgensen, President, and all the staff of GAI were present in the event. 75 borrowers of GAI exhibited their loan activities in different stalls at the inauguration event. The stimulating speech of Professor Muhammad Yunus boosted up the level of confidence amongst the staff as well as the members of GAI.

Grameen America has been in operation in the United States of America since January 2008. It now has six branches with Jackson Heights as the oldest and the largest one. Till September 2011, GAI disbursed more the US$ 25 million to about 6,000 borrowers including 2,580 borrowers in Jackson Heights. The project has been enjoying 99% repayment rate.

Report by: Senti Chakma