Equip youths to remove poverty

Prof Mohammad Yunus

He was speaking as chief guest at a function organised to distribute Grameen Bank higher education loan to 12 students of Government Saadat College at Karatia in Tangail on Saturday.

Prof. Yunus, Managing Director of Grameed Bank (GB) said many poor talents in the country are forced to stop education only for want of money. Soft loans can help build their career as well as change the society. Education loans on easy terms can also be introduced by other banks and financing institutions, he said.

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With Saadat College Principal Prof Dr Mohammad Kamru-zzaman in the chair, the function was addressed by, among others, GB Deputy Managing Director Dipal Chandra Barua, Tanagail Deputy Commissioner Saifuddin Ahmed Majumdar, GB Regional Manager in Tangail Kazi Mohammad Ataur Rahman, Secretary of Saadat College Teachers Association Prof Abdur Rahim Khan, Prof Fatema Chowdhury and Assistant Prof AKM Didar.

Three students from among the 12 loan recipients also spoke on the occasion.

The 12 were given loans totalling Tk 7,06,000. Seven of them, all first year honours students, got Tk 77,000 each. Of the rest, one got Tk 73,000, one Tk 50,000 and three others got Tk 19,000, Tk 13,00 and Tk 9,000. The loans were given according to their needs.

Repayment of the loans bearing 5 per cent interest rate will start after completion of their academic period. The interest will be waived if they can repay the loan before end of their academic period, according to GB sources here.

Prof. Yunus said Bangladesh can find its place among developed countries in only 15 to 20 years if it can turn the huge manpower into resources. This is possible if concerted efforts are made involving the government, NGOs and the civil society, he said.

Micro credit can play a vital role in this regard. Time has come for banking institutions to change their outlook, he said.

Recalling his experience, he said, "When I was thinking to expand activities of Grameen Bank in districts in 1978, bank officials told me that poor people would not return loans. I threw a challenge and started loan distribution in Akur Takur Para area in Tangail town in 1979.

"My conviction came true. The poor proved to be good clients.

Later on the day, at another function at Mirzapur, Prof. Yunus distributed Tk 4,000 loan each to two woman beggars and a Grameen Palli Phone to another to give up begging.