'Give Us Credit." a new book on the world acclaimed microcredit programme of Grameen Bank was formally launched In the city yesterday, reports UNB

The book written by Alex Counts, a former Fulbright scholar in Bangladesh, de scribes elaborately how the Grameen Bank's micro-lending revolution has empowered women In many countries of the world

Founder and Managing Director of the Grameen Bank Prof Muhammad Yunus was the chief guest at the launching cer emony at the American Ffocre atlon Centre. It was attended by researchers, publishers and NGO officials.

By examining lives of women borrowers in Bangladesh and Chicago Counts who now lives In Dhaka, demonstrates in his book how Dr Yunus' micro-lending ideas — that has been very successful in his home country — can be universally applied

"Give Us Credit'' weaves stories of success and achievement of women from these diverse cultures who have their lives bv gaining credit and starting their own businesses

From his first loan of only 2 US dollar in 1976 to a Bangladeshi stool maker Prof Yunus has disbursed loans through his Grameen Bank to more than two million borrowers most of them women, and has fostered similar lending programmes in several coun tries worldwide

Briefing newsmen prior to the launching ceremony Prof Yunus said the Grameen Bank through Its unique lending sys tern extends credit to some 2 1 lakti families In some 36.000 villages of the country

Some 12.000 employees are working among the villagers through 1.056 branches across the country, said the Grameen Bank supremo.

Prof Yunus informed that the Bank is earning small profit, but noted that a govern-

merit decision toplace government officials of Tk 3.200 scale to 71c 4.100 would leave an ad verse impact on the profit level.

The decision would cost the Bank an additional amount of Tk one crore in expenditure for salaries as it pays to Its employees as per the government pay structure, said Prof Yunus, an adviser of the former care taker government.

He also noted that the Bank is likely to face another pay hike as the government has already constituted a new Pay Commission for the government employees

Referring to the recent political turmoil In the country the Bank MD said the number of borrowers unable to pay back loans has Increased due to the situation which hindered their economic activities

Even the employees of Grameen Bank had been refrained from performing their duties during the final stage of the last movement, which was never done before, he said

Prof Yunus said the bank had started diversification like leasing to extend its credit programme