Ms. Pushpa Basnet, Ms. Luna Shreshta Thakur and Mr. Kushwala along with many other Nepalese new entrepreneurs deserve our strong encouragement to be egged on to carry out improvements to their new entrepreneurship. For sure, they are the backbone of Nepalese society with its diversity.

All these recent past years a flood of capital is trying to enter microfinance institutions. Therefore why there is an urgent need to improve their management and corporate governance to cope with the growing competition in order to improve its credibility near the people who really make effort to thrive.

Amongst all those microfinance banks that make tiny loans to the very poor, there is no doubt the Grameen Bank founded on October1, 1983 AD by the Nobel prize-winner Muhammad Yunus of Bangladesh.

According to the recent survey conducted by the Center for the Study of Financial Innovation (CFSFI), this sector of lending is rising by 25% every year and the Grameen Bank issued 6.38 billion US dollars to 7.4 million of borrowers by 2007.

However, there are a few remarks about the shortcomings in management skills and corporate governance have made echos as this kind of institutions are more dominated by non lucrative visionaries than those that see things with strategic flexibility and profit as well.

It is therefore necessary to be more responsible and see how far the commercial aspects would not readily destroy its main raison d'etre i.e. the social ethos.

So far, microfinance has remained safe from credit crunch by avoiding overheating. Effectively, these days there are many doomsayers trying to destabilize this kind of new way of lending money.

Of late, the second biggest EU Bank namely 'Credit Agricole' became the first biggest partner of the Grameen Bank for which Yunus came to Paris to ink the newly established deal so as to increase its assets.

They are supposed to open many branches in countries like Nepal when the present political turmoil gets down to normalcy.

For once, we must not just gimmick up the shortcomings of global free market. Despite all loss of jobs and closing down of factories in rich countries, big transfer of skills and wealth has been operated in favor of the developing countries and at the same time very fast trends toward creation of jobs are taking place, especially in the lines of eco-friendly and biodiversified activity all over the world. And many NGOs are participating in different lines of activity to help the locals to improve their lot right from scratch.

It is a good way to �dip a toe in the water� of overall life experiences.

That is all to the good, albeit for a second wind we have got to cope with the bitter and protracted obstacle course.

For more information try:

http://www.seriosity.com and http://www.ibm.com/gio

NB: I have seen two kinds of microcredit distribution that are working quite differently but both of them have found their pace and momentum out of the flows. Let me illustrate them here down below:

1.The Grameen Bank practice: For starters, when there is a sufficient amount of money available for lending, five different borrowers can unite to petition for the grant. Those five are usually the village family house wives who are determined and are ready for a new entrepreneurship. They could be just kith and kin or siblings but what is necessary is they must have absolute faith in each others integrity. Each member becomes the guarantor of the other. That way when the deadline for reimbursement comes each could count on the others. This principle is largely practiced by the aforesaid bank everywhere since 1983 AD, and it works quite conveniently so far.

2.The Chinese Diaspora way: There is hardly any place world over where Chinese people ain't arrived. My curiosity made me ask one of them as to how they manage always to prosper so rapidly. He told me about the very old method that Chinese people are practicing with success for ages.

First off, say the grown-ups want to migrate. They choose the destination by a group of a dozen. As they don't have visa the easiest way is to embark upon an adventure of clandestine foray. When they arrive at their destination, each tries to earn his living mostly in Chinese restaurants as dishwasher or aide-kitchen. They become so busy with their stint that after say two years of stay those who were paid for their work decide to unite their money together to start a new Chinese restaurant. When this restaurant starts making profits then another restaurant for another former participant, and this process continues until all of those previous participants have their own restaurants in a different town or agglomeration.