Microfinance
Microfinance Program
Empowering Communities through Microfinance
Since its inception in 1978, FDA has been dedicated to the socio-economic development of the people of Faridpur through various initiatives, including relief, rehabilitation, mass education, sanitation, and access to safe water. After nearly 17 years of impactful service, FDA recognized that financial support was essential for sustainable development. In response to this need, FDA launched its Microfinance Program on October 10, 1995 to facilitate income generation and employment opportunities for marginalized communities, including small farmers, sharecroppers, fish farmers, and small entrepreneurs.
Current Reach and Impact
Over the past 29 years, FDA’s microfinance program has significantly improved the financial stability of disadvantaged populations. As of June 2024, FDA operates in:
- 1 District
- 9 upazilas
- 81 unions
- 748 villages
- 2411 groups
- 51611 members, 110 male, 51501 female
Women Empowerment Through Microfinance
One of the core objectives of FDA’s microfinance initiative is women’s empowerment. A remarkable 99.74% of the program’s members are women, ensuring that rural women gain financial independence and play a more significant role in household and community decision-making. By mandating female membership for loan applications, FDA has successfully enhanced the social and economic inclusion of rural women.
Overcoming Economic Challenges
In the fiscal year 2021-2022, Bangladesh faced economic setbacks due to the COVID-19 pandemic, global warming, and the Russia-Ukraine war. These challenges led to rising commodity prices, food shortages, and unemployment. In response, FDA prioritized the agriculture sector by offering financial assistance to farmers, ensuring sustained food production.
Microfinance Achievements in 2023-2024
During the 2023-2024 fiscal year, FDA successfully disbursed 33,666 loans, amounting to 2,221.09 crore BDT (22,210,990,000 BDT) across various sectors. The key sectors receiving financial support include:
- Agriculture & Farming: Significant funding was allocated to agriculture (1,844.54 crore BDT), fish farming (276.91 crore BDT), goat farming (93.64 crore BDT), cattle fattening (1,708.81 crore BDT), dairy farming (1,727.01 crore BDT), and poultry farming (203.47 crore BDT).
- Small Business & Trade: Entrepreneurs received loans for small businesses (315.06 crore BDT), clothing businesses (211.13 crore BDT), and machinery businesses (338.30 crore BDT).
- Land & Housing: Land mortgage and purchases were supported with 2,429.95 crore BDT and 3,920.09 crore BDT, respectively. Additionally, housing loans worth 4,078.15 crore BDT were provided.
- Transportation & Infrastructure: Loans were extended for e-bike purchases (152.58 crore BDT), rickshaw purchases (102.31 crore BDT), van purchases (136.85 crore BDT), and vehicle businesses (379.50 crore BDT).
- Technology & Specialized Businesses: Loans supported sectors like computer businesses (7 crore BDT), bamboo & cane businesses (14.62 crore BDT), and nursery businesses (18.64 crore BDT).
Social Impact and Future Goals
FDA’s microfinance program has significantly contributed to:
- Poverty reduction by creating employment opportunities for thousands.
- Women’s empowerment by ensuring financial resources are accessible to rural women.
- Agricultural sustainability through continuous financial backing for farmers.
- Entrepreneurship development by providing capital for small businesses.
- Improved rural infrastructure by financing housing and transportation-related loans.
FDA remains committed to expanding its microfinance services, ensuring sustainable economic growth for marginalized communities, and fostering financial inclusion across Bangladesh.
Join Our Mission
If you want to support FDA’s efforts in uplifting rural communities through microfinance, partner with us or explore opportunities to contribute. Contact us today!