The Impact of Microfinance on the Socioeconomic Development of Poor Women in Comilla City, Bangladesh

Abstract

Abstract.- This study aims at evaluating the present scenario of Microfinance activities for the development of poor women in the Comilla city of Bangladesh It also intends to find out whether Microfinance activities really have any impact on improving these poor women’s socioeconomic conditions or not. The study conducts in the outslnrts of Comilla city using primary data on households receiving micro credit from various MFIr Three most leading MFIs’ (Grameen Bank, BRAC and ASA) micro credit programs are considered here. Mostly early middle aged to middle aged underprivileged women are the main borrowers of micro credit in this area. Most of the borrowers under these MFI borrowed mone y more than years back. Most of the borrowers of Grameen Bank are satisfied about their present loan size and believe that their socioeconomic conditions have been improved than before. Borrowers who are under MFIs for more than two years are signficantly more likely to change their socioeconomic conditions in comparison to the borrowers who borrowed for a period less than two years. Despite of the few members faced challenges, it is regarded as a very practical and strategic intervention in providing this type of fund for the poor who may not be able to get financial service in Comilla city.