Interest-free micro-credit to be given thru' partner NGOs
Wednesday, 21 November 2007
FE Report
Palli Karma-Sahayak Foundation (PKSF) has taken initiatives to create a special fund amounting to Tk 500 million to provide long-term interest free loan through its partner NGOs to the affected microcredit borrowers to re-construct their houses in the SIDR-hit southern area.
PKSF has also taken a number of emergency initiatives through its 32 partner NGOs working in the cyclone-affected areas, said a PKSF press release.
The partner NGOs have been asked to undertake immediate relief operations (providing dry food, medicine, water purifying tablets etc.) using the surplus earned from the microcredit operations. PKSF would make up the shortfall, if any, on this account.
PKSF has also asked the partner NGOs to strictly ensure that there is no coercion/persuasion for repayment/recovery of loan instalments from the affected microcredit borrowers.
The partner NGOs have been asked to apply for rescheduling of their dues to PKSF as a result of any eventual default due to temporary suspension of recovery in the field as mentioned in the para above.
The partner NGOs have been asked to ensure that the microcredit borrowers are allowed to withdraw their savings freely as and when demanded by them. PKSF has already created a Disaster Management Fund to meet such exigencies. The partner NGOs/microcredit borrowers can get access to this fund at a very nominal service charge. The partner NGOs have been asked to avail this fund to carry out the relief/rehabilitation activities.
The partner NGOs have been asked to take preparation to carry out a massive rehabilitation programme after the exigency is over to provide seasonal credit to the microcredit beneficiaries (members) for winter crop cultivation. PKSF would provide necessary funding for this purpose from its own resources.
An emergency cell has been opened at PKSF and the partner NGOs have been asked to contact coordinator of the cell Golam Touhid, DGM (Mobile: 01711 839442), or Saleh Bin Shams ( 01714 072041) as and when required.
Palli Karma-Sahayak Foundation (PKSF) has taken initiatives to create a special fund amounting to Tk 500 million to provide long-term interest free loan through its partner NGOs to the affected microcredit borrowers to re-construct their houses in the SIDR-hit southern area.
PKSF has also taken a number of emergency initiatives through its 32 partner NGOs working in the cyclone-affected areas, said a PKSF press release.
The partner NGOs have been asked to undertake immediate relief operations (providing dry food, medicine, water purifying tablets etc.) using the surplus earned from the microcredit operations. PKSF would make up the shortfall, if any, on this account.
PKSF has also asked the partner NGOs to strictly ensure that there is no coercion/persuasion for repayment/recovery of loan instalments from the affected microcredit borrowers.
The partner NGOs have been asked to apply for rescheduling of their dues to PKSF as a result of any eventual default due to temporary suspension of recovery in the field as mentioned in the para above.
The partner NGOs have been asked to ensure that the microcredit borrowers are allowed to withdraw their savings freely as and when demanded by them. PKSF has already created a Disaster Management Fund to meet such exigencies. The partner NGOs/microcredit borrowers can get access to this fund at a very nominal service charge. The partner NGOs have been asked to avail this fund to carry out the relief/rehabilitation activities.
The partner NGOs have been asked to take preparation to carry out a massive rehabilitation programme after the exigency is over to provide seasonal credit to the microcredit beneficiaries (members) for winter crop cultivation. PKSF would provide necessary funding for this purpose from its own resources.
An emergency cell has been opened at PKSF and the partner NGOs have been asked to contact coordinator of the cell Golam Touhid, DGM (Mobile: 01711 839442), or Saleh Bin Shams ( 01714 072041) as and when required.