Thank you, Mr. Chair.
Thank you, Mr. Dunford. It's very interesting to hear you speak.
I was in Bangladesh three years ago. I actually had the opportunity to meet with Muhammad Yunus for an hour and to speak with him about his organization and his view. I've read his book, Banker to the Poor. I've started his second book, but I can't say I've finished it yet. But I've had some very interesting conversation.
The one thing I know about Grameen and BRAC, which work in Bangladesh, is that they are definitely for-profit organizations. In fact, Mr. Yunus, in his book, talks about 20% interest rates they charge for microfinance loans.
I've also been in Burkina Faso, Benin, Togo, and Ghana, where you're working.
I'd like to know a little bit more about the source of capital you have for doing the microfinance. Is there a trickle-down effect?
When I was in Bangladesh, they introduced us to some of the women. They referred to them as shasta shabika. They are women who have been trained by the banks themselves to be the ones who can diagnose the first stages of tuberculosis. They are the ones who are able to give the medications and to keep people getting their medications regularly. It's actually becoming a business for some of these women. They are taking extra training as, really, what we would call public health nurses in its infancy. But I look at that and say there is a trickle-down effect that microfinance is actually having in the community.
I wonder if, first of all, you could talk about where the capital is coming from. You say you've got investors. What is the rate of interest that is charged to the women who are getting these microfinance loans? Is there a trickle-down effect in society that is causing a ripple effect with other business starting up?