Micro-credit programmes face threats
The Federation of NGOs in Bangladesh (FNB) yesterday said micro-credit programmes are facing threats due to indiscriminate order by divisional and district administrations and local social service offices to stop all such programmes.
After the formation of Micro-credit Regulatory Authority (MRA) as per recommendation of the NGOs, over 4,000 NGOs applied until February 26, 2006 for certificates to run micro-credit programmes, says an FNB press release yesterday.
Of them, 211 received certificates, while 2,500 others were asked to raise their outstanding loans to Tk 40 lakh or raise the number of loan receivers to 1,000 by June 2009.
On April 23 last year, the MRA informed deputy commissioners that the NGOs' applications for certificates are under process and that they can continue their programmes until a decision comes in this regard, the press release said.
“In these circumstances, the indiscriminate order by the local administration to stop micro-credit activities goes against the MRA decision and is creating confusion about micro-credit programmes,” the release said.
When contacted, the MRA said it will urgently contact the local administration to remove the confusion, the release added.
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