Yunus’ bank important, Clinton says

DHAKA - The Associated Press

U.S. Secretary of State Hillary Rodham Clinton yesterday urged the government of Bangladesh not to do anything that could undermine the effectiveness of the internationally acclaimed Grameen Bank micro-lender. Clinton told a town hall audience in the Bangladeshi capital that the pioneering bank founded by Nobel laureate Muhammad Yunus was a “tremendous” model for the developing world and that its structure should not be tinkered with. A search for a new bank chief is now underway since the government ousted Yunus last year in a heavily criticized step.

Clinton is a personal friend of Yunus and met with him for about 45 minutes at the U.S. ambassador’s residence before the town hall.

“We do not want to see any action taken that would in anyway undermine or interfere in the operations of the Grameen Bank or its unique organizational structure where the poor women themselves are the owners,” Clinton told the town hall. “I don’t want anything that would in any way undermine what has been a tremendous model.”

“The Grameen Bank has played an instrumental role,” she said. “I highly respect Mohammed Yunus and I highly respect the work that he has done and I am hoping to see it continue without being in any way undermined or affected by any government action because that would be unfortunate.”