Grameen Bank: performance and sustainability, Parts 63-306 by Shahidur R. Khandker, M. A. Baqui Khalily, Zahed H. Khan

By Shahidur R. Khandker, M. A. Baqui Khalily, Zahed H. Khan

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Stella David and Carrie Palma processed various versions of the paper and provided production support. Responsibility for errors and opinions remains entirely the authors. Page ix Executive Summary The Grameen Bank is a rural bank in Bangladesh that provides credit and organizational help to the poor, who are otherwise excluded from the formal credit system because they lack material collateral. This financial institution has replaced physical collateral requirements with group responsibility; by organizing poor individuals into groups, it has created the social and financial conditions enabling them to receive loans.

7 percent per taka loan outstanding. If this subsidy is treated as a net transfer to the rural poor, each taka transfer generated private savings of Tk 7 in 1994. Furthermore, the transfer may also lead to social gains by improving health, nutrition, and education. An in-depth analysis of household survey data confirms that the Grameen Bank's impact on poverty alleviation and other indicators of social welfare is indeed substantial. Expansion and Replicability The Grameen Bank can expand if it becomes a sustainable financial institution.

Although financial liberalization policies have improved conditions in many countries, many credit institutions still depend on continued government support (Cho and Khatkate 1989). Critics have argued that these rural credit programs failed because of the limited role of the interest rate and savings mobilization (Adams, Graham, and Von Pischke 1984). They also view credit as a process of intermediation rather than as a production input and consequently focus on improving this process through the market mechanism.

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