Nobel laureate Prof Muhammad Yunus has agreed to help Assam Government for introducing a micro-credit scheme for uplift of the standard of living of the people of the rural areas of the State. Prof Yunus, who is the executive trustee of the Grameen Trust of Bangladesh, was requested by the Chief Minister, Tarun Gogoi, to extend his help to Assam in introduction of a micro-credit system in the State and the Nobel Laureate has agreed to extend help to the State Government.

Informing his decision in a letter to the Chief Minister, Prof Yunus said that they have already completed the initial study regarding the proposal of the Government of Assam and some official formalities need to be completed before launching the project. He said that the Director of the Grameen Trust, India would meet the Chief Minister soon to discuss the implementation of the project.

Meanwhile, the State Government has prepared a draft note of the project, which will be implemented in a period of three years in two phases and an amount of Rs 835 lakh would be disbursed as loan in three years. In the first year, the beneficiaries would get loan amounting to maximum of Rs 5000, while, the loan amount would be Rs 7,000 and Rs 10,000 in the second and third years.

As per the proposal of the State Government, at the initial stage, the project would be implemented in the district of Sonitpur. The district has been selected to launch the project as according to a study by the Reserve Bank of India, the district has the largest population outside the ambit of the formal banking system. In the first phase, three branches would be opened in the blocks of Tezpur, Balipara and Bishwanath Chariali, while, in the second phase, another three branches would be opened in Rangapara, Charduar and Dhekiajuli. The aim is to provide loans to approximately 18,000 beneficiaries.

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