Beggars in Bangladesh are to receive interest-free loans from the US bank Citigroup to help them to become self-employed.
The loans will come from a $250,000 (£143,000) donation to Grameen
Bank, which has developed a microcredit system used by about five
million people in Bangladesh and replicated throughout the world during
the past 30 years.
Citigroup, which calls its initiative Project Dignity, said: ‘It aims
to improve living standards for more than 2500 beggars across the
country and help them to find ways to lift themselves out of poverty.’
The loans will be used to help people become self-employed by selling
fruit and vegetables and raising livestock.
Since 2002 Grameen’s small loans have helped 1000 people to abandon
begging. Critics, however, say this policy fails to tackle the root
causes of poverty and traps people into petty trading in an overcrowded
market.
