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A new component of The People�s Fund campaign is the People�s Fund groups, modeled after Grameen borrowers� groups. Support groups are made up of five individuals who learn and agree to a list of decisions. Each contributor group also agrees to both raise a total of $10,000 by recruiting 100 new contributors as well as start five additional support groups. Group members participate in a monthly conference call to discuss their experiences and new ideas. If this model is successful and each participant is able to start a new group, seven generations of groups will be more than sufficient to complete the campaign! Currently, there are six active pilot groups across the United States in Oregon, Colorado, South Dakota, and the District of Columbia. JoAnene Bangs of Rapid City, South Dakota is directing this effort. 

Visit refurbished Peoples Fund website at http://www.peoplesfund.org
On this site you will find lots of information about microcredit, Grameen programs, and how you can get involved with the People�s Fund. You also may contact Campaign the Coordinator Alex Counts, by E-mail at or by telephone at (202) 543-2113. 
Bulletin Board

A Grassroots Collaboration

How to get involved

Impact of CARD on the Filipino poor

Grameen investment notes

Accion International Website

World Habitat Award Goes to Grameen Housing

Training on Grameen basics 

Thirtieth Grameen International Dialogue Program

Summit meeting of councils

Microcredit fund in KAZAKHSTAN

UGANDAN Grameen Network


Grameen Trust Programs

Impact of CARD on the Filipino Poor
  • Seventy percent of CARD borrowers are completely landless and own houses worth less than $550.
  • Of the amount borrowed by CARD members, 97 percent is invested in income-generating activities.
  • The borrowers' average rate of return on investment is an impressive 117 percent and 114 percent for those borrowers who have taken five or more loans.
  • Income-generating activities financed by CARD loans generated 163 days of employment for CARD borrowers each year and an additional 84 days for other family members.
  • Labor productivity in CARD financed businesses is 36 percent higher than the prevailing local wage rate.
  • CARD branches reach profitability in four to five years, when their loans outstanding reach $86,000. Four out of seven branches already have achieved profitability.
These findings have encourage and inspired people around the world who believe that the Grameen Bank methodology has the potential of improving the lives of millions of families living in abject poverty outside of Bangladesh.
More Information�
  • To learn more about CARD, which now has become a bank, contact Dolores Torres, Executive Director, CARD, 20 M.L. Quezon Street, City subdivision, San Pablo City, 4000, Philippines;

  • A partial listing of Grameen replications around the world is accessible on our website at http://www.grameenfoundation.org


Grameen Investment Notes will promote a unique opportunity for socially responsible investment by allowing direct investment in the work of Grameen to eradicate poverty. 

As Grameen has grown, it has created supporting companies to meet the diverse needs of its borrowers. These companies work in sectors ranging from textiles and fisheries to energy and telecommunications and information technology. As members of the Grameen �family of organizations�, these spin-offs contribute to the Grameen goal of improving the lives of the rural poor in Bangladesh and around the world. Grameen Investment Notes will allow investors to participate directly in the work of Grameen by financing these companies. Potential investments include the Grameen Software Initiative, the Village Internet Program, and the Village Pay Phone Project. The notes will have a $1,000 minimum, a three-year term, and a rate of return chosen by the investors between 0 and 3 percent. Grameen Foundation USA will market the notes and the Calvert Foundation will facilitate registration and investment administration. The notes will meet all federal and state registration requirements to be sold to the general public and will be secured by $ 3.2 million in subordinated investments from the Ford Foundation and the MacArthur Foundation. 

For more information contact Geoff Davis at


ACCION International launched its new and expanded web site at www.accion.org. In an effort to better serve microenterprise organizations around the world and to promote the dissemination of best practices globally, ACCION�s publications draw from the field experience of its network affiliates and of many organizations around the world. 

The enhanced site includes a number of comprehensive sections including �The World of Microfinance�, which highlights leading organizations involved in training, testing, research, policy advocacy and publication on key microfinance issues.

World Habitat Award Goes to Grameen Housing
The housing program of Grameen Bank which had won the Aga Khan Award for Architecture in 1989, has received the World Habitat Award in 1997.
In 1984 the bank started to lend money for housing the rural poor and 448,000 housing units have been built so far using these loans. Averaging US$350 each, the loan includes the provision of four concrete columns for a house of 20 sq. meter, bamboo and wooden supports for a corrugated iron sheet roof and one sanitary latrine. In a flood-prone country, these houses provide secure shelters. Families can build the houses themselves with the help of neighbors and using materials of their choice. Most important, the title deed to the house is vested with the borrower and in 95 percent cases it is the woman of the family or the wife who becomes the owner. This helps her obtain financial security and an improved status within the family and society. 
The World Habitat Awards were initiated in 1985 as part of the UK based Building and Social Housing Foundation�s contribution to the UN�s International Year of Shelter for the Homeless in 1987. The objective was for every nation to draw up strategies, policies and programs that would enable practical and attainable improvements to be made in the shelter and neighborhoods of all poor and disadvantaged people by the year 2000.

Eleven staff members from Grameen Bank replication projects in Togo, Central African Republic, Uganda, Tanzania, India and Nepal, participated in a training program on Grameen Basics. The program was jointly organized by Grameen Bank and Grameen Trust from November 28 to December 18, 1998. 

The training program was designed to provide Grameen Bank replicators with in-depth knowledge of the essentials of the Grameen Bank Management System at the branch level. Emphasis was placed on financial and operational aspects of Grameen Bank, including initiation of a branch, maintenance of credit discipline, supervision, accounting, fund management, financial viability and expansion. 


The Thirtieth Grameen International Dialogue Program was held from 15 - 27 November, 1998. Twenty seven participants from eighteen countries i.e. Albania, Australia, Belgium, Bulgaria, Democratic Republic of Congo, Croatia, El Salvador, Hungary, India, Kazakhstan, Mongolia, Moldova, the Philippines, Romania, Slovakia, Sri Lanka, United States of America and Uzbekistan, attended this program. Fifteen of the participants from Eastern Europe, Central Asia and the USA were sponsored by the Open Society Institute, which is affiliated to the Soros Foundation. The Program laid the foundation for future collaboration between Grameen and Soros. Two delegates from AusAID also attended the program. 

The participants were able to observe Grameen Bank operations in practice at the field level in selected branches around the country. This gave them the opportunity to see how Grameen Bank and its members had coped with the recent floods that had affected large inland areas of Bangladesh. Some of the participants prepared follow-up plans to initiate future action research or pilot projects that aim at alleviation of poverty through microcredit programs. 

The Microcredit Summit will hold the second meeting of councils on June 24-26, 1999 in Abidjan, Cote D'Ivore. This will be a working meeting of the leading institutions in the global campaign to ensure that 100 million of the world's poorest families, especially the women of these families, receive credit for self-employment and other financial and business services by the year 2005. 

For further information contact the Microcredit Summit at fax +1 (202) 637 3566; , or at 440 First street, #460, Washington, DC 20001, USA. 


The Government of Kazakhstan has created a non government "Micro-Credit Fund" to support microcredit programs in the country. The address of the Fund is : 
Microcredit Fund
Almaty, Dostyk 85, Kazakhstan

The Uganda Grameen Network (UGN) was set up in a meeting of the Grameen Global Network (GGN) held in Kampala on November 2, 1998. Representatives from the Grameen replication projects NAWOU, SOMED/IRUDEP, PACT and Micro Credit Development Trust (MCDT) in Uganda, Redd Barna and Grameen Trust were present at this meeting. Ms. Olivia Kayongo, the Program Coordinator of MCDT, was unanimously elected as the coordinator of UGN. 

Members of the Grameen family emphasized the need to identify common problems, arrange exchange visits and set up an umbrella committee for coordination. The network would necessitate practical ways of solving problems learning from each other�s experiences, and field training of staff through attachment with similar organizations. The focus would be on networking by complementing rather than competing with each other. 


CASHPOR now has a website that will give information on the replication of Grameen in Asia. The site name is: http://www.cashpor.com. This website is being designed and constructed by Kumar Thangamuthu, a volunteer with the Indian Development Service in Chicago.