Pertinent issues on SME finance in Bangladesh

Tuesday, September 12, 2006

Financial services for the poor have proved to be a powerful instrument for poverty reduction enabling the poor to build assets, increase incomes and reduce the vulnerability to economic stress. Today, access to credit is recognised as a ’right’ of people globally. Over the years, there has been phenomenal growth in activities of microcredit in many countries of the world and a transition in the paradigm and modalities of microcredit. Microcedit Summit Meeting first held in Washington DC, USA in February 1997 has launched a global movement to reach 100 million of the world’s poorest families, especially the women of those families, with credit for self-employment and other financial and business services by the year 2005. The UN has declared 2005 as the “International Year of Microcredit”, now is the time to reflect on the experiences of Bangladesh, the birthplace of micro finance and the country with the biggest and most vibrant micro finance sector.

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Source: Financial Express (link opens in a new window)