On February 16, 2004, more than 1,200 participants from 47 countries gathered at the Asia/Pacific Region Microcredit Summit (APRMS) in Dhaka, Bangladesh. This issue features an excerpt from the APRMS Council Meeting of Corporations, Banks, Foundations and Philanthropists. Presentations were made by Bindu Ananth, manager of the Social Initiatives Group of ICICI Bank in India and Ola Ree, Managing Director of Grameen Phone in Bangladesh. Also featured is a recent New York Times editorial that has renewed debate on the new U.S. law that aims at expanding the outreach of microfinance to the very poor, those living below US$1 a day.