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KUALA LUMPUR, March 25 (Bernama) -- Citibank Bhd today launched the Citigroup-Grameen Microcredit programme for Malaysians with a presentation of a US$1.0 million grant to the Grameen Bank trust foundation.
Administered by the Grameen Bank of Bangladesh, the programme provides credit assistance to those who are too poor to qualify for traditional bank loans.
The facility would provide borrowers start-up capital at near commercial bank rates, to establish and run micro businesses, said Citibank chief executive officer Robert Matthews at a press conference after the launch.
Such borrowers will be mostly from rural areas and provided with small loans …