Microfinance Practice: [MFP] Larry Reed's Letter to the NYT Editor -- Re “Bangladesh Takes Aim at Grameen Bank” (editorial, Aug. 7)

Last week, the New York Times printed the editorial "Bangladesh Takes Aim at Grameen Bank," protesting Prime Minister of Sheikh Hasina and her Government's destructive campaign to nationalize and break up Grameen Bank. In response, Larry Reed proposes a more constructive relationship with Grameen that Hasina could pursue.

To the Editor:

If Prime Minister Sheikh Hasina is truly concerned about potential political rivals, she would be better served by finding creative ways to partner with microfinance institutions like Grameen Bank. Other governments have learned how to do this.

Governments in countries like Brazil, Mexico, the Philippines and India have partnered with microfinance providers to help move people from welfare to work, expand health insurance coverage or provide access to national markets for low-income farmers.

Bangladesh has hundreds of microfinance providers serving more than 20 percent of the country's adult population, including some of the world's largest like Grameen, BRAC and ASA. By working with these organizations to remove constraints that trap people in poverty, Sheikh Hasina could establish her legacy as a woman who helped bring profound, positive change to her country.

Read it online here and please share it on social media! Check out our blog post to see how you can take action in support of Grameen Bank.

Sabina ROGERS | Communications and Relationships Manager

MICROCREDIT SUMMIT CAMPAIGN | A Project of RESULTS Educational Fund

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