CGAP's Greg Chen lives in Dhaka, the capital of Bangladesh. He has closely followed the microfinance difficulties in South Asia.
CGD Policy Blogs
Last week I gave a talk at the Second European Research Conference on Microfinance in the Dutch city of Groningen (pronounced Grrrrrrrrrrrongn).
Five leading Indian microfinance institutions (MFIs), struggling because of a fund squeeze that has gripped the industry, have been accorded a substantial measure of relief by banks approving the restructuring of around Rs. 5,000 crore [$1.1 billion] of debt.
The CDR package stipulates a one-year moratorium on repayments and seven years to repay loans for the five MFIs.