Sarathi holds discussion on fostering financial solutions for low-income people

Sarathi- Improving Financial Health’, a flagship financial inclusion project co-funded by Swisscontact and MetLife Foundation, arranged a discussion on ‘Financial Solutions to Foster Economic Resilience of the Low-Income Population of Bangladesh’ on Tuesday.

The objective was to bring the economic turmoil faced by the low-income community and initiate an insightful discussion within the financial ecosystem to better cater to their needs.

The low-income population of Bangladesh is on the rise with 30.9 million now being categorised as the ‘new poor’ in a recent study by PPRC-BIGD. The COVID-19 pandemic and current global unrest has resulted in global and national financial shocks like supply chain disruptions, fuel and electricity shortages, foreign reserve depletion, and inflation.

The economic turbulence is predicted to persist for a while as Bangladesh’s annual inflation rate reached 9.52 per cent in August, more than 10-year high.