The Economic and Finance Committee of the United Nations General Assembly adopted by consensus a resolution entitled "Role of Microcredit in the Eradication of Poverty." This resolution was initiated as a follow-up to the microcredit summit held in Washington, D.C. last February. Bangladesh was joined by 39 other countries from various regions of the world as co-sponsors of this draft. This is the first time that microcredit has been the subject of a separate resolution in the United Nations. The "Friends of Microcredit at the United Nations" had played a very supportive role to this initiative. The resolution has now been formally adopted by the General Assembly as well.