I am surprised that the USA shows so much interest in this concept for its own people after reducing them to poverty amidst so much affluence. This is also their approach in our countries where poverty has been created by policies like Structrual Adjustment , while the poor have been reduced to destitution by advocating globalization, liberalization and privatization. Their's is a philosophy based on human greed while throwing crumbs to those who have been marginalized under the munificent garb of charity and philanthropy.  By highjacking the Micro Credit Summit to New York they wish to show the human face of capitalism that creates  poverty. The article by G. K. Lieten in the Economic and Political Weekly of 17th January 1998, reveals how pouring money into this field can distort an idea which has considerable potential since it arises from the grassroots.

We are trying to evolve a small scale credit scheme which can hopefully be undertaken by the women themselves. The enclosed annual report of our Foundation will give some idea of the multifaceted activities carried out by the women, the Grameen Bank being one.

We too find that the medical profession is responsible for increasing indebtedness which the people find hard to repay. Our training of women in health and illness care helps to prevent this. Our 3 district study finds that over 8% of the household expenditure of the poorest is on such form of inappropriate medical care, trading on fear and suffering.

We would like to send a few of our village women to Bangladesh to see your activities at the grassroots if you will agree. We would also welcome a reciprocate visit from your side.