Special Reoport

Nobel Laureate Professor Muhammad in Hainan, China

The People's Government of Hainan Province, China Banking Regulatory Commission, Hainan Rural Credit Union and Grameen Trust (GT) jointly organized `China (Hainan) Rural Microcredit International Forum' on "To Serve Agriculture, Peasantry and Rural Area with Microcredit" in Sheraton Haikou, China from 26-27 December 2007. The Forum was sponsored by Hainan YEDAO (Group) Co. Ltd and Hainan Nanztunag Co. Ltd.

Three hundred participants attended the Forum including the officials of the Provincial Government of Hainan, Peoples Bank of China, the Banking and Regulatory Commission officials of the Provincial Rural Credit Union, representatives of the Commercial Banks, Donors and microfinance practitioners from in and outside China. A five-member team from Grameen attended the Forum. Two Grameen representatives from India and Nepal were also present at the Forum.

Professor Muhammad presented the keynote speech at the opening ceremony. He focused on the impact of Grameencredit in the lives of the poor families, challenges of microcredit with emphasis on regulatory policy, management capacity and the funding capability.

In the business session, Professor H.I.Latifee, Managing Director of Grameen Trust presented his paper on Nobel Peace Prize (2006) winner Grameen Bank, where he focused on Grameen Philosophy, Technology and its replication worldwide.

Signing of Agreement

During the conference the Hainan Rural Credit Union, China and Grameen Trust, Bangladesh signed a Memorandum of Understanding in the presence of Nobel Laureate Professor Muhammad. Under this agreement, Grameen Trust will implement Hainan microcredit program based on Grameen Bank model with the financial assistance from Hainan Rural Credit Union. It is expected that this collaboration will result in a positive contribution in the field of poverty reduction in China.

Report by Abdul Hai Khan, Grameen Trust