US-based CGAP elects Indian as Executive Committee Chairman

The global micro finance body set up by World Bank has elected India's Vijay Mahajan as Chairman of its Executive Committee.

The global micro finance body set up by World Bank has elected India's Vijay Mahajan as Chairman of its Executive Committee.

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US-based 'Consultative Group to Assist the Poor' (CGAP) set up by the World Bank, 33 donor countries and seven Foundations is a micro finance body and an independent policy and research centre dedicated to advancing financial access for the world's poor, according to a statement.

Mahajan is the founder and chairman of the BASIX Group, a micro finance company that helped support the livelihoods of over 1.5 million poor households in the agriculture, allied and non-farm sectors by extending micro-credit worth over Rs 2,250 crore, it said.