Grameen Bank comes to India

Grameen Bank has completed formalities to start a liaison office in Mumbai. The operation will commence from January 2007, repots The Financial Express.

Some of its functions will include assisting those adopting the GB model in India, preparing project proposals, meeting training requirements, and creating awareness to make micro-credit at the ground level more effective.

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GB proposes to implement its BOT model in India, too. Using this model, the bank will deploy its expertise for a fixed time until local staff recruited for the purpose acquire the necessary skills. Once the local staff is trained, GB will exit the project.