Rural Communities are Getting Financial Emancipation through Microfinance Program in Bangladesh
Microfinance institutions for decades have positively impacted financial inclusion, savings, and lending, especially in remote areas of Bangladesh.
Along with the rising demand for micro-credit, as well as being the medium of poverty diminution, ADRA Bangladesh started micro-credit activities at the end of 2015 by accepting microcredit as one of the media of development.
With the aim of creating self-employment opportunities for the targeted people, socio-economic development, increasing human dignity and rights, building hunger, and poverty-free society, ADRA Bangladesh takes Microfinance as a key instrument.
Micro-credit programs take efforts to develop financial and social development through collaborating with the targeted population so that each one meets the basic needs to achieve the lower limits of the poverty index. ADRA Bangladesh considers the financial ability of the low-income communities living in rural areas, generally, those who don't have sufficient opportunities to living.
Several studies confirm that micro-credit programs help households partially insure against shocks so that they effectively play an important "safety net" role. One carefully designed study finds that microcredit borrowers are about 50% less prone to consumption fluctuation than their counterpart non-member poor households in Bangladesh.