bdnews24.com :
Finance Minister AMA Muhith anticipates poverty to reduce to half of the current level by 2021.Speaking at a national seminar on ‘Poverty Alleviation and Social Development: Role of Micro-Credit’ on Sunday, Muhith said acute poverty was on its way out in Bangladesh.
“Poverty won’t be around in Bangladesh for much longer. So I don’t want to talk of poverty alleviation, but of poverty eradication. Only some disadvantaged people like old and physically handicapped will need social security,” said a confident-sounding Muhith.
“Twenty-six percent of our population is below poverty line now. That will drop to 14 to 15 percent by 2021. Any country where only 14-15 percent people are poor can no longer be called a poor country.”
Muhith said only five percent of microcredit beneficiaries had defaulted although the amount of default loans was increasing in the banks.
“Changes can be brought in rural lives if we can utilise these microcredits for productive purposes,” he said.
The Microcredit Regulatory Authority (MRA), Palli Karma-Sahayak Foundation (PKSF) and Institute of Microfinance co-organised the two-day seminar.
PKSF Chairman Qazi Kholiquzzaman Ahmad said poverty alleviation with only microcredit was not possible. “Microcredit helps a bit of progress but sustainable development was not possible with it.”
