In Bangladesh, microfinance has failed to penetrate the extreme poor, especially those in the most remote rural locations such as the chars. Unlike many areas of mainland Bangladesh, where microfinance institutions (MFIs) services to the poor are ubiquitous, credit options for char dwellers are limited and conveniently avoided due to the perception that, char dwellers are too poor to be good microfinance clients. The high incidence of extreme poverty and pronounced seasonality of agriculture, combined with vulnerability to natural disasters have deterred MFIs from establishing branches on island chars.
BSRM partnered with National Development Program (NDP), an NGO having vast experience in micro finance, is supporting poor people, who were unable to access microfinance for improving their living standards, through training, providing technical help and funding livelihood programs.
BSRM will provide interest free loan to scale up NDP’s capacity. The project will benefit about
1,050 households (HH) or lives of about 5,000 people including school going children as BSRM- NDP Livelihood Program will support and empower the displaced landless in the remote chars of Sirajgonj district over a period of 3 years.