Macro story of micro-credit 

If Bangladesh is known for anything other than the natural calamities that regularly strike this impoverished deltaic country, it is for its microcredit programmes. Initiated some 25 years ago, micro-credit has often been described as a panacea for poverty and its profile has risen in recent years with the interest shown in it by the likes of Bill Clinton and many other national and state leaders.

International development agencies such as the UN affiliates as well as the World Bank are now pushing this as a strategy to reduce poverty. At a time when the Bangladeshi experience is being increasingly sought to be replicated in other destitute areas of the world, Afsan Chowdhury studies the situation of micro-credit in his country and comes up with a number of conclusions, some noted before, some previously unknown and a few altogether unexpected.

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Himal Southasian