Some NGOs halt loan repayment collections
Tuesday, 27 November 2007
Some NGOs working in cyclone-devastated areas of the country have suspended collection of their loan repayments as reports alleged that some organisations put pressure on their clients for payback, reports bdnews24.com.
Shafiqul Haque Chowdhury, chairman of non-governmental organisation ASA and a former adviser to the caretaker government (CG), told the news agency Saturday that they had postponed collection of loan repayments.
Chowdhury said all NGOs working in the country should make an announcement soon regarding new loans and what to do with outstanding ones.
"We want to do something for people living in the cyclone-affected areas. Our teams have been working in those areas. We want to expand our relief operations in one or two days," Shafiqul said.
Aminul Islam, secretary to the Chief Adviser's Office (CAO), said, "Many NGOs were asked to launch an insurance system for micro-credit programmes, which would benefit both lenders and clients."
Officials from Grameen Bank and South Asia Partnership in Bangladesh said they had received orders from their superiors to suspend repayment collections for the time being.
Grameen Bank branch manager Manzur Morshed said they had temporarily suspended collection of loan repayments in view of the fallout from cyclone Sidr.
Morshed added that he was expecting revised directions regarding the matter from the bank's headquarters in about two weeks.
South Asia Partnership Bangladesh project manager MA Al Mamun Majumder said they had also suspended repayment collections for two weeks.
Shafiqul Haque Chowdhury, chairman of non-governmental organisation ASA and a former adviser to the caretaker government (CG), told the news agency Saturday that they had postponed collection of loan repayments.
Chowdhury said all NGOs working in the country should make an announcement soon regarding new loans and what to do with outstanding ones.
"We want to do something for people living in the cyclone-affected areas. Our teams have been working in those areas. We want to expand our relief operations in one or two days," Shafiqul said.
Aminul Islam, secretary to the Chief Adviser's Office (CAO), said, "Many NGOs were asked to launch an insurance system for micro-credit programmes, which would benefit both lenders and clients."
Officials from Grameen Bank and South Asia Partnership in Bangladesh said they had received orders from their superiors to suspend repayment collections for the time being.
Grameen Bank branch manager Manzur Morshed said they had temporarily suspended collection of loan repayments in view of the fallout from cyclone Sidr.
Morshed added that he was expecting revised directions regarding the matter from the bank's headquarters in about two weeks.
South Asia Partnership Bangladesh project manager MA Al Mamun Majumder said they had also suspended repayment collections for two weeks.