Microcredit plays vital role for sustainable development

Administrative officials and development activists said microcredit and other microfinance play a vital role towards generating employment and sustainable development in the country.

They came up with the observation while addressing a coordination meeting at the conference hall of Deputy Commissioner (DC) in Rajshahi district on Tuesday.

In addition to contributing to the economy, microcredit has become an important part of improving the living and livelihood condition of the marginalized people besides expediting the process of elevating the country’s GDP.

District administration organised the meeting tiled “Role of NGOs and Microcredit Regulatory Authority to Develop the Socio-economic Condition of Marginalized People” attended by officials and representatives of 63 NGOs.

DC Abdul Jalil, Additional DC Kalyan Chowdhury, Executive Magistrate Mumtahina Kabir, Deputy Director of Department of Women Affairs Sobnam Shirin and District Cooperative Officer Mainul Islam addressed the meeting.

Abdul Jalil underscored the need for establishing transparency and accountability in micro-credit activities to ensure development.

The role of microcredit is very important towards improving the living and livelihood condition of the marginalized people. So, all the microcredit activities must be effective and pro-people.

Abdul Jalil also said the role of NGOs is very important towards successful implementation of the government’s uplift programmes in terms of taking the nation forward.

He mentioned that the present government under the dynamic and visionary leadership of Prime Minister Sheikh Hasina has been implementing various time-fitting programmes for improving living and livelihood conditions of the grassroots population particularly for the low-income and marginalized ones.

To this end, the NGOs should supplement the government endeavors with their heartfelt importance.