The New Nation - Internet Edition

Fakir Selim, New York

Bangladesh's noble laureate and Grameen Bank Chairman Dr. Muhammad Yunus inaugurated the Grameen America at Jacksion Height in New York yesterday (Friday).

The Grameen America would provide small loans among poor people in different ethnic communities in New York through this organization. While inaugurating the program, Dr. Yunus said the success of micro-financing has not only gained world wide fame; it changed the lives of hundreds and thousands of people in Bangladesh.

He strongly believes the program would be well accepted and gain absolute popularity among the enthusiastic entrepreneurs in New York. HE said that he was happy to hear that the people of different ethnic communities in America showed their interests to get involved in Grameen America's program.

Althong primarily the Grameen America started its activities in one center in Jacksion Heights, New York; its target is to make at least a thousand members in one year.

Shah Newaz, coordinator of the Grameen America said no security documentation would be needed to take loan from the Graeen America except providing the proof of legal status in United States. Additionally, the borrower would have to prove him or herself as the member of low income group.

The organization representatives would decide the loan amount of the borrower between 500 and 3000 dollars according his or her income and need.

After inaugurating the office of Grameen America, Dr. Yunus gave a short speech at Delhi Palace restaurant at Jacksion Height. Among others, the program was attended by M Shamsul Hoque, Consule General of Bangladesh in New York.

Few borrowers of the project, people of different ethnic communities and media personnel were present on the occasion.

Later, Dr. Yunus had a courtesy visit to Muktadhara in Jacksion Height.