Introduction:

The Microfinance program is one of the major program components of Bangla- German Sampreeti (BGS) striving for poverty reduction through creating socio- economic opportunities for the poor and marginal families of Bangladesh. The program has major focus on capacity building and empowerment of poor women through engendering equal participation.

Goal of BGS MF Program:

BGS set the goal of the program to develop a sustainable socio-economic improvement of target households by making access of microfinance opportunities and facilities.

Major Objectives:

The main objectives of the Microfinance program of BGS are as follows:

• To turn the talents and abilities of the poor and marginalized people into effective human resources by meeting their basic and humanitarian needs by providing necessary financial assistance to the rural people/families.
• Ensuring access for the members/family members of target families that can easily enter any credit line and participate Income Generating Activities (IGA) as per their needs, preferences, and abilities.
• To build capital by making small savings which members can use as an alternative financial source in times of emergency.
• To assist the targted families/households to develop the necessary skills and confidence in business management and financial management.
• To increase the awareness of the members about basic rights, environment, social responsibility, health, and hygiene.
• To build stable financial cohesion by providing moderate surplus from Microfinance activities in addition to providing services and to contribute to the conduct of social programs for the poor.

Moreover, Microfinance is an integral part of BGS holistic development approach that support the targeted population and their families. The Microfinance Program is considered as one of the tools of economic development which is closely related to other development activities of the organization.

Scops of the program:

BGS Microfinance programs creates diverse access and opportunities for its members and borrowers. Considering the needs of target members, the program introduces customized activities for the benefit of its clients. However, all the activities and schemes are fully allied and complained with the rules and regulations of Microcredit Regulatory Authority (MRA) of Bangladesh Government. The schemes are; a) Rural Micro Credit, b) Micro Enterprise, c) Seasonal Loan (agriculture) Area coverage: BGS microfinance has the geographical coverage in the districts of Cox’s Bazar, Tangail, Sirajganj, Pabna, Gaibandha and Rangpur, it has been operating the program by 5 different regions involving 20 Branches.