Access to finance especially to the poor is essential for promoting inclusive economic growth and eradicating poverty in the country. An inclusive financial system provides a number of benefits to the economy. It makes available more resources for investment especially for the promotion of small and medium enterprises (SMEs). It creates employment opportunities, ensures economic and financial stability through reducing vulnerability and contributes to poverty reduction.
In Bangladesh, several high-performing microfinance institutions, including NGOs and the government agencies, have developed innovative methodologies to extend credit, savings and other services to the poor clients.
It is perceived that microcredit can create economic opportunities for the poor households and can contribute to their graduation out of poverty in the long run.
Microfinance institutions can play major role to achieve Sustainable Development Goals (SDGs).
Speaker said in a sharing meeting titled “Sustainable Development Goals (SDGs) : Roles of inclusive finance” held at YPSA Head Office on 12 January 2016.
Mr. Abdul Awal, Executive Director of Credit and Development Forum (CDF) discussed on this issue as a key speaker and Mr. Md. Arifur Rahaman, Chief Executive of YPSA moderate the meeting. Mr. Md. Mahabubur Rahaman, Director (Social Development Program), Mr. Palash Chowdhury, Director (Finance), Mr. M. Murshed Chowdhury Director (Economic Development) and other senior staffs of YPSA were present in the meeting.