Country Reoport
USA
Independent Review Finds Grameen Trust Project
The First MFI with Zero Portfolio at Riskt


Borrowers of Microfinance for Poverty Reduction Project (MPRP)

Grameen Trust (GT) launched the Microfinance for Poverty Reduction Project (MPRP) in Zambia in July 2004. The initial goal of the project was to develop an effective microfinance program that would serve 2,400 of the poorest women with Grameen microfinancial services with the aim to alleviate their poverty; as well as develop local capacity in the operations of a best-practice sustainable microfinance institution (MFI).

GT deputed two Grameen experts to the project who set up one urban branch in Lusaka and a rural branch in Chongwe. The initiative was supported by the Governments of Zambia and Japan, as well as the United Nations Development Program (UNDP) - Zambia, and United Nations Volunteers (UNV). Two local organizations: Micro Bankers Trust (MBT) and the Institute of Cultural Affairs Zambia (ICAZ) were selected as local facilitators for the project.

A recent independent review of MPRP commissioned by the UNDP and UNV Zambia found that MPRP was successful in implementing the Grameen model inrameen Trust (GT) launched the Microfinance for Poverty Reduction Project (MPRP) in Zambia in July 2004. The initial goal of the project was to develop an effective microfinance program that would serve 2,400 of the poorest women with Grameen microfinancial services with the aim to alleviate their poverty; as well as develop local capacity in the operations of a best-practice sustainable microfinance institution (MFI).

GT deputed two Grameen experts to the project who set up one urban branch in Lusaka and a rural branch in Chongwe. The initiative was supported by the Governments of Zambia and Japan, as well as the United Nations Development Program (UNDP) - Zambia, and United Nations Volunteers (UNV). Two local organizations: Micro Bankers Trust (MBT) and the Institute of Cultural Affairs Zambia (ICAZ) were selected as local facilitators for the project.

A recent independent review of MPRP commissioned by the UNDP and UNV Zambia found that MPRP was successful in implementing the Grameen model in


Mexico
Grameen Microcredit Program Disburses
First Loans in Hainan

Hainan Rural Credit Union (HRCU) and Grameen Trust began discussions in the summer of 2007 regarding implementing a microfinance program following the Grameen Bank Approach (GBA) in Hainan Province of China. The plan to implement the program was formally announced in December 2007. The program launched with a funding commitment of RMB 30 million from HRCU.

In April 2008 GT sent two resource persons from Grameen: Mr. Haider Ali as Project Director and Mr. Kalidash Banik as Branch Manager, to Hainan. They started work with three staff recruited locally from HRCU for the initiative.

Hainan Microcredit Project in the Grameen Bank Model (HMPGBM) as the program is known, disbursed its first loans on June 6, 2008, to 10 women of two groups at the village named Shima. The loan disbursement ceremony was held at the local HRCU office. Each of the 10 borrowers received 2,000 Yuan which they plan to use on pig fattening, buying ducks and chickens, as well as grocery business.