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Oh, dont bother with any post by i-puke. He just googles "India" + "against" + "bangladesh".
Yunus 'siphoned Tk 7bn aid for poor'
- Thread starter CaPtAiN_pLaNeT
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Oh, dont bother with any post by i-puke. He just googles "India" + "against" + "bangladesh".
BanglaBhoot
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'Image does not depend on Yunus'
Dhaka, Dec 07 (bdnews24.com)Foreign minister Dipu Moni has said Bangladesh's image did not depend on Nobel laureate Dr Muhammad Yunus.
Defending prime minister Sheikh Hasina's position, Moni said, "famous Yunus" was not "above the law" and that the fund transfer row should be investigated "for the sake of the truth".
She made the comment while talking to journalists at the foreign ministry on Tuesday, where the foreign minister had been asked by journalists whether the prime minister's comment about Dr Yunus had tarnished the image of Bangladesh.
"The image of Dr Yunus is different in different parts of the world, especially in areas where the experiences of micro-credit are not good," Moni said, replying to a question that the prime minister's alleged negative comments on the Nobel laureate tarnished the country's image.
"Bangladesh's image doesn't depend on a particular person."
"Besides, finding out the truth is more important than image. Nobody is above the law, no matter how big or how honourable he or she is," said the foreign minister, who supported Sheikh Hasina's announcement to probe the transfer of Norwegian aid from one account to another.
Dipu Moni said the foreign donations come for the welfare of the people and the global accountability regime of aid money was really strict. "No unfair dealings with people's money should be allowed," said the foreign minister.
She said Bangladeshis will have to regain their global image, if tarnished, through their fight for democracy and resilience.
"If any irregularity regarding fund transfer is unearthed, it'll prove that Bangladeshis thrive on disclosing the truth," said Moni.
Prime minister Sheikh Hasina on Dec 5 told journalists that anyone "sucking money from poor people will eventually be caught." She also said the government would investigate the alleged fund transfer by Muhammad Yunus.
GRAMEEN CONTROVERSY 'Image does not depend on Yunus' | Bangladesh | bdnews24.com
Dhaka, Dec 07 (bdnews24.com)Foreign minister Dipu Moni has said Bangladesh's image did not depend on Nobel laureate Dr Muhammad Yunus.
Defending prime minister Sheikh Hasina's position, Moni said, "famous Yunus" was not "above the law" and that the fund transfer row should be investigated "for the sake of the truth".
She made the comment while talking to journalists at the foreign ministry on Tuesday, where the foreign minister had been asked by journalists whether the prime minister's comment about Dr Yunus had tarnished the image of Bangladesh.
"The image of Dr Yunus is different in different parts of the world, especially in areas where the experiences of micro-credit are not good," Moni said, replying to a question that the prime minister's alleged negative comments on the Nobel laureate tarnished the country's image.
"Bangladesh's image doesn't depend on a particular person."
"Besides, finding out the truth is more important than image. Nobody is above the law, no matter how big or how honourable he or she is," said the foreign minister, who supported Sheikh Hasina's announcement to probe the transfer of Norwegian aid from one account to another.
Dipu Moni said the foreign donations come for the welfare of the people and the global accountability regime of aid money was really strict. "No unfair dealings with people's money should be allowed," said the foreign minister.
She said Bangladeshis will have to regain their global image, if tarnished, through their fight for democracy and resilience.
"If any irregularity regarding fund transfer is unearthed, it'll prove that Bangladeshis thrive on disclosing the truth," said Moni.
Prime minister Sheikh Hasina on Dec 5 told journalists that anyone "sucking money from poor people will eventually be caught." She also said the government would investigate the alleged fund transfer by Muhammad Yunus.
GRAMEEN CONTROVERSY 'Image does not depend on Yunus' | Bangladesh | bdnews24.com
Manmohan said nothing
States Indian HC on media report
Star Report
The Indian high commission in Dhaka yesterday said Indian Prime Minister Manmohan Singh had not made any comments about Prof Muhammad Yunus or Grameen Bank of late.
In a statement on a local news report involving Manmohan and Yunus, the high commission's spokesperson said, “The reports that Prime Minister Dr Manmohan Singh criticised Nobel laureate Prof Muhammad Yunus are false and erroneous. No such comments have been made by the prime minister of India.”
Citing Indian newspapers, an online Bangla news agency on Monday reported that Manmohan had criticised Yunus for “funds anomalies” at Grameen Bank.
The agency, however, did not mention which papers had published the “comments”.
The Daily Star last night browsed through some key Indian newspapers online, but did not find any recent Manmohan comments on Yunus, founder of Grameen Bank.
Meanwhile, Foreign Minister Dipu Moni yesterday said the allegations of funds anomalies at Grameen Bank should be investigated properly, as people want to know the truth.
On queries from journalists at her office, the minister said it is more important to unearth facts than protecting an individual's reputation. No one is above the law, no matter how influential he or she is, she added.
Last week, a Norwegian television documentary alleged that Grameen Bank had diverted nearly $100 million aid money to its sister concern Grameen Kalyan.
On Friday, Grameen Bank denied any wrongdoing, saying it had transferred 96 million dollars of aid to Grameen Kalyan and had it back as loan the same day to enlarge funds for micro-borrowers.
Manmohan said nothing
States Indian HC on media report
Star Report
The Indian high commission in Dhaka yesterday said Indian Prime Minister Manmohan Singh had not made any comments about Prof Muhammad Yunus or Grameen Bank of late.
In a statement on a local news report involving Manmohan and Yunus, the high commission's spokesperson said, “The reports that Prime Minister Dr Manmohan Singh criticised Nobel laureate Prof Muhammad Yunus are false and erroneous. No such comments have been made by the prime minister of India.”
Citing Indian newspapers, an online Bangla news agency on Monday reported that Manmohan had criticised Yunus for “funds anomalies” at Grameen Bank.
The agency, however, did not mention which papers had published the “comments”.
The Daily Star last night browsed through some key Indian newspapers online, but did not find any recent Manmohan comments on Yunus, founder of Grameen Bank.
Meanwhile, Foreign Minister Dipu Moni yesterday said the allegations of funds anomalies at Grameen Bank should be investigated properly, as people want to know the truth.
On queries from journalists at her office, the minister said it is more important to unearth facts than protecting an individual's reputation. No one is above the law, no matter how influential he or she is, she added.
Last week, a Norwegian television documentary alleged that Grameen Bank had diverted nearly $100 million aid money to its sister concern Grameen Kalyan.
On Friday, Grameen Bank denied any wrongdoing, saying it had transferred 96 million dollars of aid to Grameen Kalyan and had it back as loan the same day to enlarge funds for micro-borrowers.
Manmohan said nothing
TopCat
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Norway gives clean chit to Grameen Bank
Norwegian Minister for Environment and International Development Erik Solheim on Wednesday clarified that Grameen Bank had not embezzled the donor’s funds or used the money for unintended purposes.
He also said Grameen Bank was not involved in corrupt practices, according to a press release posted on the Norwegian Foreign Affairs Ministry website.
As Solheim requested Norad to prepare a report on the fund transfer by Grameen Bank to another of its spin-off organisation following a TV series broadcast by a Norwegian channel, the minister said the matter was concluded when the agreement concerning reimbursement of the funds was entered into in May 1998.
“According to the report, there is no indication that Norwegian funds have been used for unintended purposes, or that Grameen Bank has engaged in corrupt practices or embezzled funds. The matter was concluded when the agreement concerning reimbursement of the funds was entered into in May 1998 under the government in office at the time,” said Erik Solheim.
Norad’s report shows that Grameen Bank transferred a total of NOK 608.5 million to its sister company Grameen Kalyan in 1996. Norway’s share of this amount is estimated to be approximately NOK 170 million. The Norwegian Embassy in Dhaka reacted immediately when it discovered the transfer in 1997. In the embassy’s view, the transfer was not in accordance with the agreement. The matter was raised with Grameen Bank. Following negotiations, it was agreed in May 1998 that NOK 170 million was to be transferred back from Grameen Kalyan to Grameen Bank.
On December 3, Grameen Bank denied any wrongdoing, saying it had transferred 96 million dollars of aid to Grameen Kalyan and had it back as loan the same day to enlarge funds for micro-borrowers.
Dr Muhammad Yunus, founder of the bank, has defended himself saying this had been done to ensure maximum transparency and responsible use of the Bank's revolving fund.
The documentary, titled "Fanget i Mikrogjeld" or "Caught in Micro debt", was aired on Tuesday on the National Norwegian Television, NRK. The whole episode took place about one and a half decades ago. And then it was presumably ironed out, as the documentary showed a compromise had been reached concerning transfer of the funds Norway granted to Grameen Bank. Under the agreed compromise, 170 million Norwegian kroners was transferred back to GB.
The documentary claimed the Norwegian embassy in Dhaka at a meeting with the bank at its office on December 3, 1997 came to know about the May 7, 1997 agreement between Grameen Bank and Grameen Kalyan, which became effective on December 31, 1996 for transfer of funds of Tk 3.914 billion.
In a letter to Yunus on December 15, 1997, the embassy said: "In line with the agreement, Grameen Bank transferred all funds accumulated up to December 31, 1996 received from donors for revolving funds, to Grameen Kalyan, which at the same date transferred the amount to Grameen Bank as a loan.
Tk 1.927 billion of the amount was related to the revolving fund for housing loans.
Grameen Kalyan is in fact a spin-off created in 1996 by Grameen Bank, which set up an internal fund called Social Advancement Fund (SAF) by imputing interest on all the grant money it received from various donors
Norwegian Minister for Environment and International Development Erik Solheim on Wednesday clarified that Grameen Bank had not embezzled the donor’s funds or used the money for unintended purposes.
He also said Grameen Bank was not involved in corrupt practices, according to a press release posted on the Norwegian Foreign Affairs Ministry website.
As Solheim requested Norad to prepare a report on the fund transfer by Grameen Bank to another of its spin-off organisation following a TV series broadcast by a Norwegian channel, the minister said the matter was concluded when the agreement concerning reimbursement of the funds was entered into in May 1998.
“According to the report, there is no indication that Norwegian funds have been used for unintended purposes, or that Grameen Bank has engaged in corrupt practices or embezzled funds. The matter was concluded when the agreement concerning reimbursement of the funds was entered into in May 1998 under the government in office at the time,” said Erik Solheim.
Norad’s report shows that Grameen Bank transferred a total of NOK 608.5 million to its sister company Grameen Kalyan in 1996. Norway’s share of this amount is estimated to be approximately NOK 170 million. The Norwegian Embassy in Dhaka reacted immediately when it discovered the transfer in 1997. In the embassy’s view, the transfer was not in accordance with the agreement. The matter was raised with Grameen Bank. Following negotiations, it was agreed in May 1998 that NOK 170 million was to be transferred back from Grameen Kalyan to Grameen Bank.
On December 3, Grameen Bank denied any wrongdoing, saying it had transferred 96 million dollars of aid to Grameen Kalyan and had it back as loan the same day to enlarge funds for micro-borrowers.
Dr Muhammad Yunus, founder of the bank, has defended himself saying this had been done to ensure maximum transparency and responsible use of the Bank's revolving fund.
The documentary, titled "Fanget i Mikrogjeld" or "Caught in Micro debt", was aired on Tuesday on the National Norwegian Television, NRK. The whole episode took place about one and a half decades ago. And then it was presumably ironed out, as the documentary showed a compromise had been reached concerning transfer of the funds Norway granted to Grameen Bank. Under the agreed compromise, 170 million Norwegian kroners was transferred back to GB.
The documentary claimed the Norwegian embassy in Dhaka at a meeting with the bank at its office on December 3, 1997 came to know about the May 7, 1997 agreement between Grameen Bank and Grameen Kalyan, which became effective on December 31, 1996 for transfer of funds of Tk 3.914 billion.
In a letter to Yunus on December 15, 1997, the embassy said: "In line with the agreement, Grameen Bank transferred all funds accumulated up to December 31, 1996 received from donors for revolving funds, to Grameen Kalyan, which at the same date transferred the amount to Grameen Bank as a loan.
Tk 1.927 billion of the amount was related to the revolving fund for housing loans.
Grameen Kalyan is in fact a spin-off created in 1996 by Grameen Bank, which set up an internal fund called Social Advancement Fund (SAF) by imputing interest on all the grant money it received from various donors
LaBong
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Here is the same news of Manmohan Singh criticizm of prof. Yunus (at the end of the article) from indian Bengali daily pratidin. But now that indian game is caught there will be plenty of excuse and diversion.
Sangbad Pratidin ePaper
Where the eff it says Manmohan said anything regarding Yunus. What kind of sick people are these guys? And they usually quote the same shershahnews or whatever to prove India did this and India did that! Morons.
Awami MPs shower Hasina with kudos
Wed, Dec 8th, 2010 9:51 pm BdST
Dial 2000 from your GP mobile for latest news
Dhaka, Dec 8 (bdnews24.com)—Awami League MPs have showered prime minister Sheikh Hasina with praise for getting an honorary doctorate degree from Saint-Petersburg University of Russia.
Some MPs were so enthusiastic in their praise that they even predicted that Hasina would be awarded Nobel Prize in future.
The parliament adopted a congratulatory proposal for earning the degree for her contribution to human development.
"We have been waiting for the day when we will be discussing about Sheikh Hasina's Nobel winning in this parliament," said Junaid Ahmed Polok, an Awami League MP from Natore.
"We hope that our leader (Sheikh Hasina) will be awarded with Nobel Prize. She will earn more honourary degrees in future," said Monzur Quader Quraishi, a Netrokona MP.
"Insallah, Sheikh Hasina will win Nobel prize in peace," Awami League MP Abdur Rahman told parliament.
Senior Awami League MP Tofail Ahmed said nobody worked better than Sheikh Hasina in developing the human resources.
Agriculture minister Matia Chowdhury, textile and jute minister Abdul Latif Siddiqui, Sirajul Akbar, Golam Mostofa, Chhayedu Hoque and Tarana Halim also spoke.
The main opposition BNP and its allies were absent.
Awami MPs shower Hasina with kudos | Bangladesh | bdnews24.com
Irrelevant but worth nothing
Wed, Dec 8th, 2010 9:51 pm BdST
Dial 2000 from your GP mobile for latest news
Dhaka, Dec 8 (bdnews24.com)—Awami League MPs have showered prime minister Sheikh Hasina with praise for getting an honorary doctorate degree from Saint-Petersburg University of Russia.
Some MPs were so enthusiastic in their praise that they even predicted that Hasina would be awarded Nobel Prize in future.
The parliament adopted a congratulatory proposal for earning the degree for her contribution to human development.
"We have been waiting for the day when we will be discussing about Sheikh Hasina's Nobel winning in this parliament," said Junaid Ahmed Polok, an Awami League MP from Natore.
"We hope that our leader (Sheikh Hasina) will be awarded with Nobel Prize. She will earn more honourary degrees in future," said Monzur Quader Quraishi, a Netrokona MP.
"Insallah, Sheikh Hasina will win Nobel prize in peace," Awami League MP Abdur Rahman told parliament.
Senior Awami League MP Tofail Ahmed said nobody worked better than Sheikh Hasina in developing the human resources.
Agriculture minister Matia Chowdhury, textile and jute minister Abdul Latif Siddiqui, Sirajul Akbar, Golam Mostofa, Chhayedu Hoque and Tarana Halim also spoke.
The main opposition BNP and its allies were absent.
Awami MPs shower Hasina with kudos | Bangladesh | bdnews24.com
Irrelevant but worth nothing
No proof Grameen embezzled funds: Norad | Bangladesh | bdnews24.com
No proof Grameen embezzled funds: Norad
Wed, Dec 8th, 2010 5:13 pm
Dhaka, Dec 8 (bdnews24.com)Norad says it found no evidence of embezzlement of the Norwegian funds given to Grameen Bank but that the bank did transfer the aid money to its sister company, breaching agreement.
The Norwegian aid agency submitted a report to its government Tuesday on the country's support to the microlender in the 1980s and 1990s. The report follows a Norwegian TV documentary on microcredit alleging unauthorised transfer of funds from Muhammad Yunus' Grameen Bank to another sister company.
Norway's environment and international development minister Erik Solheim asked Norad to prepare the report after the TV documentary series "Brennpunkt" raised the question of where the Norwegian aid money had gone.
Norad's report shows that Grameen Bank transferred a total of Norwegian kroner (NOK) 608.5 million to its sister company Grameen Kalyan in 1996. Norway's share of this amount is estimated to be approximately NOK 170 million.
The Norwegian embassy in Dhaka was furious to discover that cash donated to Yunus' microcredit arm Grameen Bank for housing loans was diverted to Grameen Kalyan without its knowledge or permission.
The arrangement, which Yunus claimed was made for tax reasons, was not mentioned in Grameen Bank's annual report for that year.
In the embassy's view, the transfer was not in accordance with the agreement and it took up the matter with Grameen Bank.
Following negotiations, it was agreed in May 1998 that NOK 170 million was to be transferred back from Grameen Kalyan to Grameen Bank.
The Norwegian government has maintained that even though Yunus did not steal money, the fund transfer was 'unacceptable'.
"According to the report, there is no indication that Norwegian funds have been used for unintended purposes, or that Grameen Bank has engaged in corrupt practices or embezzled funds," said minister Solheim.
"The matter was concluded when the agreement concerning reimbursement of the funds was entered into in May 1998 under the government in office at the time," he added.
No proof Grameen embezzled funds: Norad
Wed, Dec 8th, 2010 5:13 pm
Dhaka, Dec 8 (bdnews24.com)Norad says it found no evidence of embezzlement of the Norwegian funds given to Grameen Bank but that the bank did transfer the aid money to its sister company, breaching agreement.
The Norwegian aid agency submitted a report to its government Tuesday on the country's support to the microlender in the 1980s and 1990s. The report follows a Norwegian TV documentary on microcredit alleging unauthorised transfer of funds from Muhammad Yunus' Grameen Bank to another sister company.
Norway's environment and international development minister Erik Solheim asked Norad to prepare the report after the TV documentary series "Brennpunkt" raised the question of where the Norwegian aid money had gone.
Norad's report shows that Grameen Bank transferred a total of Norwegian kroner (NOK) 608.5 million to its sister company Grameen Kalyan in 1996. Norway's share of this amount is estimated to be approximately NOK 170 million.
The Norwegian embassy in Dhaka was furious to discover that cash donated to Yunus' microcredit arm Grameen Bank for housing loans was diverted to Grameen Kalyan without its knowledge or permission.
The arrangement, which Yunus claimed was made for tax reasons, was not mentioned in Grameen Bank's annual report for that year.
In the embassy's view, the transfer was not in accordance with the agreement and it took up the matter with Grameen Bank.
Following negotiations, it was agreed in May 1998 that NOK 170 million was to be transferred back from Grameen Kalyan to Grameen Bank.
The Norwegian government has maintained that even though Yunus did not steal money, the fund transfer was 'unacceptable'.
"According to the report, there is no indication that Norwegian funds have been used for unintended purposes, or that Grameen Bank has engaged in corrupt practices or embezzled funds," said minister Solheim.
"The matter was concluded when the agreement concerning reimbursement of the funds was entered into in May 1998 under the government in office at the time," he added.
Where the eff it says Manmohan said anything regarding Yunus. What kind of sick people are these guys? And they usually quote the same shershahnews or whatever to prove India did this and India did that! Morons.
Perhaps, you need to look closely to what I had posted:
"Here is the same news of Manmohan Singh criticizm of prof. Yunus (at the end of the article) from indian Bengali daily pratidin. "
Here is the magnifying the news from indian newspaper:
Look closely and follow the link provided in my earlier post. Sheershanes report qouted indian newspaper protidin. Its not sheershanews own report.
LaBong
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Perhaps, you need to look closely to what I had posted:
"Here is the same news of Manmohan Singh criticizm of prof. Yunus (at the end of the article) from indian Bengali daily pratidin. "
Here is the magnifying the news from indian newspaper:
When was this article posted. I mean the date.
Sangbad Pratidin ePaper
^here is the link of pratidin, would please take the effort and find the me news, or you can tell me the date as well.
BanglaBhoot
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'Norad refund wasn't in full'
Dhaka, Dec 9, (bdnews24.com)Grameen Bank did not refund all the money to Norad, says Tom Heinemann, the maker of the documentary `Caught in Micro Debt', aired on the Norwegian television NRK.
Heinemann's reaction on Wednesday follows Tuesday's statement from the foreign ministry of Norway on the Bank's founder Muhammad Yunus' fund transfer to Grameen Kalyan from Grameen Bank, breaching the agreement.
In an e-mail to bdnews24.com, Heinemann said, "The Embassy and Norad reacted strongly [at] the time that the money was transferred in part to save tax. Grameen Bank is still using the tax argument when they are defending the transaction."
At a talk show on a private TV channel on Tuesday, Grameen's managing director M Shahjahan said that they had transferred the fund to 'save tax', but not to 'evade tax'.
On Nov 30, the Norwegian state television ran the documentary 'Caught in Micro Debt' by Danish journalist Tom Heinemann. The documentary brought the transfer issue to public as 12 years into the incident.
bdnews24.com was the first to break the story in Bangladesh, which stirred a raging debate across the world.
'NOT A WORD ON CORRUPTION'
Norway's foreign ministry then asked Norad to submit a report on fund transfer which the aid agency did on Tuesday.
Norad in the report said it found no evidence of embezzlement of the Norwegian funds given to Grameen Bank but that the bank did transfer the aid money to its sister company, breaching the agreement.
Norway's environment and international development minister Erik Solheim said, "The matter was concluded when the agreement concerning reimbursement of the funds was entered into in May 1998 under the government in office at the time."
Norad's report shows that Grameen Bank transferred a total of Norwegian kroner (NOK) 608.5 million to Grameen Kalyan in 1996. Norway's share of this amount is estimated to be approximately NOK 170 million.
But Heinemann says, according to the 'confidential memos', the amount transferred is actually NOK 274 million.
"The documentary: "Fanget i Mikrogjeld" have never claimed (or said) one word about misuse of money, nor have the programme raised any allegations regarding potential corruption issues," said Heinemann.
"But why should the documents be kept away from the public?"
"Why did the then Director of Norad, Mrs. Tove Strand Gerhardsen and Mr. Yunus agree in keeping these documents stamped 'Confidential' and hidden away from the politicians in both countries? These questions are still unanswered," he added.
'100 MILLION UNACCOUNTED FOR'
The Danish journalist said the embassy and Norad agreed to a compromise of 170 million. "It meant that not all of the Norwegian funds were returned to the Grameen Bank."
"More than 100 million is not accounted for. We have seen no evidence to show that Grameen Kalyan has returned the rest of the aid funds provided by other countries / institutions, as [Grameen Bank] claim in their statement."
In a May 26, 1998 letter, the Norwegian embassy in Dhaka told Dr Yunus, "The embassy is glad to confirm the compromise which has been reached concerning transfer of funds provided from Norway to Grameen Bank."
It also stated the amount of refund that Norway provided to Grameen Bank during different phases.
Fund that should be returned are "NOK 76 million, provided for housing loan under an agreement of 1994 (phase-4); NOK 30 million, provided for housing loan under another an agreement of 1993 (phase-4); NOK 40 million, provided for housing loan under an agreement of 1990 (phase-3) and NOK 24 million, provided for general and collective loan under an agreement of 1990 (phase-3)."
'WHAT ABOUT OTHER DONORS' MONEY?'
Heinemann says, "It is documented that of the 608 millionthe total fund transferred to Grameen Kalyan540 million was from Norad and other donors such as Germany, Sweden and The Netherlands."
Quoting that the Swedish aid agency SIDA had provided him evidence that Sweden gave 190 million Swedish kronor, Heinemann says the money "was transferred from the Grameen Bank to Grameen Kalyan".
"But they concluded that they would not join Norway's demand for repatriation of funds because they would not damage the Grameen Bank's good name and reputation," he added.
On Grameen Kalyan's purposes as a company, Heinemann notes that it has a completely different purpose than the Grameen Bank "among other things, to create joint ventures with multinational companies, invest in other companies, invest capital in shares, etc."
'WHO SHOULD WE BELIEVE?'
Heinemann mentions that to date they have not seen any proof or accounts that in any way gives any evidence on what the transferred money in Grameen Kalyan actually was used for.
He says, "Mr. (Erik) Solheim, the minister for international development in Norway, has said in the Norwegian parliament that the transferred money e.g. was used for the flood victims in 1998."
"In the Grameen Bank statement it's not mentioned by a single word. Who should we believe?"
SPECIAL'Norad refund wasn't in full' | Bangladesh | bdnews24.com
Dhaka, Dec 9, (bdnews24.com)Grameen Bank did not refund all the money to Norad, says Tom Heinemann, the maker of the documentary `Caught in Micro Debt', aired on the Norwegian television NRK.
Heinemann's reaction on Wednesday follows Tuesday's statement from the foreign ministry of Norway on the Bank's founder Muhammad Yunus' fund transfer to Grameen Kalyan from Grameen Bank, breaching the agreement.
In an e-mail to bdnews24.com, Heinemann said, "The Embassy and Norad reacted strongly [at] the time that the money was transferred in part to save tax. Grameen Bank is still using the tax argument when they are defending the transaction."
At a talk show on a private TV channel on Tuesday, Grameen's managing director M Shahjahan said that they had transferred the fund to 'save tax', but not to 'evade tax'.
On Nov 30, the Norwegian state television ran the documentary 'Caught in Micro Debt' by Danish journalist Tom Heinemann. The documentary brought the transfer issue to public as 12 years into the incident.
bdnews24.com was the first to break the story in Bangladesh, which stirred a raging debate across the world.
'NOT A WORD ON CORRUPTION'
Norway's foreign ministry then asked Norad to submit a report on fund transfer which the aid agency did on Tuesday.
Norad in the report said it found no evidence of embezzlement of the Norwegian funds given to Grameen Bank but that the bank did transfer the aid money to its sister company, breaching the agreement.
Norway's environment and international development minister Erik Solheim said, "The matter was concluded when the agreement concerning reimbursement of the funds was entered into in May 1998 under the government in office at the time."
Norad's report shows that Grameen Bank transferred a total of Norwegian kroner (NOK) 608.5 million to Grameen Kalyan in 1996. Norway's share of this amount is estimated to be approximately NOK 170 million.
But Heinemann says, according to the 'confidential memos', the amount transferred is actually NOK 274 million.
"The documentary: "Fanget i Mikrogjeld" have never claimed (or said) one word about misuse of money, nor have the programme raised any allegations regarding potential corruption issues," said Heinemann.
"But why should the documents be kept away from the public?"
"Why did the then Director of Norad, Mrs. Tove Strand Gerhardsen and Mr. Yunus agree in keeping these documents stamped 'Confidential' and hidden away from the politicians in both countries? These questions are still unanswered," he added.
'100 MILLION UNACCOUNTED FOR'
The Danish journalist said the embassy and Norad agreed to a compromise of 170 million. "It meant that not all of the Norwegian funds were returned to the Grameen Bank."
"More than 100 million is not accounted for. We have seen no evidence to show that Grameen Kalyan has returned the rest of the aid funds provided by other countries / institutions, as [Grameen Bank] claim in their statement."
In a May 26, 1998 letter, the Norwegian embassy in Dhaka told Dr Yunus, "The embassy is glad to confirm the compromise which has been reached concerning transfer of funds provided from Norway to Grameen Bank."
It also stated the amount of refund that Norway provided to Grameen Bank during different phases.
Fund that should be returned are "NOK 76 million, provided for housing loan under an agreement of 1994 (phase-4); NOK 30 million, provided for housing loan under another an agreement of 1993 (phase-4); NOK 40 million, provided for housing loan under an agreement of 1990 (phase-3) and NOK 24 million, provided for general and collective loan under an agreement of 1990 (phase-3)."
'WHAT ABOUT OTHER DONORS' MONEY?'
Heinemann says, "It is documented that of the 608 millionthe total fund transferred to Grameen Kalyan540 million was from Norad and other donors such as Germany, Sweden and The Netherlands."
Quoting that the Swedish aid agency SIDA had provided him evidence that Sweden gave 190 million Swedish kronor, Heinemann says the money "was transferred from the Grameen Bank to Grameen Kalyan".
"But they concluded that they would not join Norway's demand for repatriation of funds because they would not damage the Grameen Bank's good name and reputation," he added.
On Grameen Kalyan's purposes as a company, Heinemann notes that it has a completely different purpose than the Grameen Bank "among other things, to create joint ventures with multinational companies, invest in other companies, invest capital in shares, etc."
'WHO SHOULD WE BELIEVE?'
Heinemann mentions that to date they have not seen any proof or accounts that in any way gives any evidence on what the transferred money in Grameen Kalyan actually was used for.
He says, "Mr. (Erik) Solheim, the minister for international development in Norway, has said in the Norwegian parliament that the transferred money e.g. was used for the flood victims in 1998."
"In the Grameen Bank statement it's not mentioned by a single word. Who should we believe?"
SPECIAL'Norad refund wasn't in full' | Bangladesh | bdnews24.com
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