Poverty Situation in Bangladesh
Bangladesh is a model country in terms of reducing poverty. It has made incredible progress in diminishing poverty, reinforced by constant economic growth. Bangladesh has more than condensed its prevalence of poverty over the past 20 years. Its economic growth has been robust over the past decade and reached 7.9% in the fiscal year that ended on 30 June 2018.
Bangladesh’s poverty rate came down at 21.8% while the poverty rate, as per the lower poverty line or people living in extreme poverty, came down to 11.3% in 2018, according to the latest data of the Bangladesh Bureau of Statistics (BBS).
ADRA in Bangladesh is steering its interventions in the rural areas of Bangladesh in terms of reducing poverty, build the capacity of the vulnerable population, ensure food security, and income-generating activity.
Poverty is a curse for a country. The GDP growth rate, industrialization and per capita income are developing in our country but poverty as the anathema still exists in our country. The poverty rate and percentage of the population both are the highest in rural areas rather than in urban areas. More than 80% of people in the rural region depend on agricultural productivity for their survival. In this respect, ADRA in Bangladesh abets the peasant communities by providing modern agrarian technology such as Climate Smart Agriculture (CSA), System of Rice Intensification (SRI), Dike Crop Method, Tower Gardening, etc.
Nowadays farmers are getting familiar with the modern agrarian system and producing more crops spontaneously. This helps them to assure food security in the local community.
ADRA is strengthening the social and economic status of women to contribute to self-worth. Women are experts in their areas of interest in various farm and non-farm income-generating skills.
Along with the growing demand for micro-credit, as well as being the means of poverty reduction, ADRA Bangladesh commenced micro-credit activities in 2015. Intending to creating self-employment opportunities for the targeted people, socio-economic improvement, building hunger, and poverty-free society, ADRA Bangladesh takes microfinance as a key contraption. At present, ADRA Bangladesh is functioning micro-credit in three subdistricts of two districts, Mymensingh and Khulna with 1872 beneficiaries with working capital of Bangladeshi Taka 20 million (around 243,902 US$).
Although the economy has promptly developed, poverty for many in Bangladesh still persists. With more development and emphasis on education and diversified economy, poverty is continuing to decrease in Bangladesh.