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The year 2000 marks the beginning of the 21st century. We look forward to the future with hope and expectation, building on the success of the past. ASA has crossed well beyond the million mark of borrowers and in recent years has inaugurated several micro-credit project extension to other countries and more credit to establish trades and businesses. ASA has never rested on its laurels of the past, particularly after it achieved the distinction of being the first NGO in Bangladesh to pay completely for all its expenses, including central administration, from the loan repayments. Since Mexico in 1982 declared itself unable to service its international debt, the inability of the poorest nations to repay their international debts has become a crucial international issue. Many debtor countries have to remit more in interest to creditor countries than they receive in aid. A downward cycle goes on that will prevent the 41 countries selected by the United Nations as in greatest need of debt remission, from ever coming to a standard of decent living for all its citizens. Even a poor disaster-prone country like Bangladesh, which has a 26 percent debt servicing ratio, does not fall under the UN provisions for possible debt reduction or remission. Something more drastic than debt reduction is needed, even if the money thus saved were used exclusively for health and education programs, which primarily benefit the poor. The big international finance institutions like the World Bank, the International Monetary Fund and the Asian Development Bank, together with the big international donor nations (G8) now look to poverty reduction strategy to ease the burden of the poor, who are the hardest hit by debt servicing and the Structural Adjustment Programs imposed by donors. |
One of the best responses available today to the problem of poverty is the micro-credit programs inaugurated by the NGOs of Bangladesh, especially for women. Credit has been extended to millions of poor women in Bangladesh for productive purposes in boosting income. The ASA program, which we members of the Governing Body consider to be the most standardized, efficient, transparent and economical, has proved itself in Bangladesh and is now being replicated in others countries under ASA guidance. The breakdown of the moneylender system and the liberation and empowerment of disadvantaged rural women are among the benefits that have been gained through micro-credit organisations. The end of a century and the beginning of a new one is a time to be grateful for the money blessings we have received from the Almighty and to ask in deep faith his all-powerful help for our continuing dedicated efforts to spread the availability of micro-credit to all the poor and even to the poorest of the poor. These are the ten percent at the “bottom of the heap” and it is a great challenge to ASA to find a way and create a model to make such persons economically viable and put them on the path to self-reliant development.
Fr. R. W. Timm President, ASA-Governing Body
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The UN goal is now
a 50 percent
reduction in the number of those living below the poverty line by the year
2015. Is this a realistic target?