| Grameen
Trust launched the People’s Fund in March 1995, in an
effort to raise US$100 million to support Grameen replication
projects worldwide. David Ellis was the first person who contributed
US$ 100 to the Peoples Fund. So far, the Fund stands at US$
162,798, with the Grameen Foundation USA, playing a major
part in the fund-raising effort. Grameen Foundation, Australia
is also mobilizing contributions for the People’s Fund.
With
the support of this fund, Grameen Microcredit has approved
a total of US$ 145,000 as onlending funds to five projects
in Uganda, Bangladesh and Tanzania.
Micro
Credit Development Trust (MCDT), Uganda, is the first
recipient of the People’s Fund in the form of a US$50,000
soft loan to capitalize their loan portfolio and increase
their member base. MCDT now operates as a limited company
and a non-government organization in four districts in Uganda
i.e. Kampala, Masala, Luwero and Tororo. Over the years since
its inception, MCDT has grown to over 4,796 members, disbursed
US$ 932,360 in loans, with a repayment rate of 98% and mobilized
US$ 67,751 in member savings till June ’03.
Integrated
Development Foundation, Bangladesh, was set up with
the aim to help those who have been historically marginalised
– indigenous tribal population of the Chittagong Hill
Tracts (CHT). IDF is working in geographically and socially
challenging conditions in CHT. IDF’s task is more difficult
than that of many other microcredit operations. GT has approved
a total of US$ 40,000 to IDF for its Mohora branch from this
Fund. Till July 2003, IDF has created a significant and sustained
impact on the lives of 36,028 members to whom they have so
far disbursed US$ 12,549,966 and mobilized US$ 1,046,891 in
savings through 29 branches. IDF has attained 126% operational
self sufficiency.
Dustha
Shasthya Kendra (DSK) in Bangladesh, began its work
in 1989, with a commitment to address the various socio-economic
problems of the vulnerable groups in society. Women are its
main beneficiaries. GT has approved a total of US$ 25,000
to its Rupsha branch from People’s Fund. DSK is now
active in six districts of Bangladesh, with an outreach of
over 42,664 members and a total disbursement of US$ 11,246,562.
DSK has attained 153% operational self sufficiency.
Concerned
Women For Family Development (CWFD) also in Bangladesh,
was founded in 1976, with the objective of improving the quality
of life of women. CWFD now has 5 branches. From this Fund
GT has approved US$ 25,000 to CWFD for the expansion of its
credit program in Chittagong branch. CWFD has reached a total
of 5,807 members with a total loan disbursement of US$ 1,030,276.
The project has already attained operational self sufficiency.
Jecy Development Trust Fund (JECY) in Tanzania
was registered as a Trust Fund in 1997, with the objective
of alleviating poverty through provision of financial services
to poor households, especially women and people with physical
disability. GT has approved US$ 5,000 to JECY from this Fund
to expand its credit program. JECY started its credit program
in Segerea, Chanika, Gongolamboto and Kisarawe villages in
the coastal region of Dar Es Salam, Tanzania. JECY has now
537 members, with a total disbursement of US$ 152,061.
GT
believes that with the support from People’s
Fund it will proceed steadily towards its vision
of eradicating poverty and changing the lives of the poorest.
In this pioneering spirit, Grameen encourages people to contribute
to the Fund, because with each contribution made, the life
of at least one family is changed for the better.
To
contribute to the People's Fund, please send your cheques
in favour of GRAMEEN TRUST,Grameen Bank Bhaban, Mirpur-2,
Dhaka 1216, Bangladesh, E-mail: g_trust@grameen.com, or gt_repli@grameen.com.
If you are in the USA, you may send your tax deductible contributions
to the Grameen Foundation USA, 1029 Vermont Avenue, NW, Suite
400, Washington, D.C. 20005 USA, Tel (202) 628-3560/Fax (202)
628- 3880, Web site: www.gfusa.org E-mail: info@gfusa.org
Report By
Tasmina Rahman, Grameen Trust. |
