Twenty-two women who graduated from ultra-poor status through USAID’s Nobo Jatra Project II (NJP II) received digital microloans of BDT 30,000 each under BRAC Bank’s Agricultural and Rural Credit service “Jibika Loan” on Tuesday at Shyamnagar Upazila in Satkhira. The program was held today 12 December.
BRAC Bank digitally transferred the credit to 14 women of Kaikhali Mohila Unnan Somobay Samity Ltd. and 8 women of Dharoni Mohila Unnan Somobay Samity Ltd. at an event organized by USAID’s Nobo Jatra Project II (NJP II), implemented by World Vision Bangladesh (WVB).
Attending the event, Lima Hanna Daring, Chief of Party (CoP), NJP II, WVB, said “USAID’s NJP II has been facilitating more than 30,000 ultra-poor rural women who formed over 1,600 Village Savings and Loan Associations (VSLA) for their financial inclusion through linkage building with government agencies and formal financial institutions.”
Tapos Kumar Roy, Head of Agricultural and MFI Finance, BRAC Bank, said “This is one of our very first initiatives in Bangladesh to come with Agricultural and Rural Credit service ‘Jibika Loan’ for financial inclusion of marginal rural women of VSLA and registered cooperatives through partnership.”
Loan recipient Mst. Shopna Pervin, also the President of Dharoni Mohila Unnan Somobay Samity, said “I’ll invest the money in my fish farm. The monthly installment process of ‘Jibika Loan’ is easier for me.”
Promila Rani Shil, another loan recipient and the president of Kaikhali Mohila Unnan Somobay Samity, said “I’ll buy clothes for my tailoring and clothes business.”
The event was also attended by Liton Kumar Biswas, Relationship Manager, MFI & Agriculture Finance, BRAC Bank; Md Raihanul Islam, Associate Manager, MFI & Agriculture Finance; Md. A Alim, Associate Manager, Digital Loan Underwriting; Erfanul Hossain, Associate Manager, Credit and Portfolio Analysis; Md. Miftaul Islam, Relationship Executive, Channel Development and Inclusive Business.
On behalf of NJP II, Prodip Kumar Mondal, Technical Advisor – MSD, Agriculture, Livestock & Private Sector Engagement; Ajnabi Sultana, Coordinator – Agriculture, Inclusive Market System and Financial Inclusion; Operations Manager Kuhu Hagidok and among others were present.
The VSLAs are using digital technology through DreamStart Lab. In 2023, the project has strengthened the functionality of community-based organizations and fostered linkages among different stakeholders. WVB has been implementing USAID’s two-year-long sustainability and system-strengthening phase of Nobo Jatra Project (NJP) in Shyamnagar and Kaliganj Upazila in Satkhira and Koyra and Dacope Upazila in Khulna.
