Tuesday, May 29, 2007

GSBG successful

In February 2007, the GSBG completely repaid their loan to Ecselance International, 2 years ahead of schedule. GSBG's micro-enterprise model has been recognized as a role model by a nationalized bank, the Bank of Baroda and is being studied by several banks in Malaysia. 39 families each with at least 4 direct dependents and at least 6 indirect/partial dependents have benefited from the loans. GSBG will continue to work with the Bank of Baroda and a small cooperative bank. Congratulations to all those who helped make this possible.