The Microcredit Summit Campaign, a project that was launched in 1997 by US-based nonprofit advocacy group RESULTS Educational Fund (REF), today released a report indicating that between 1990 and 2008 approximately 10 million Bangladeshis rose above the international poverty line of USD 1.25 a day. The study attributes this improved economic status to microfinance programs that enable poor people to start small businesses and access savings and insurance services. The study is based on a survey of approximately 4,000 Bangladeshi households from mostly rural communities and some urban slums that was conducted between February and August 2009 by a team led by Sajjad Zohir of Economic Research Group (ERG), a Bangladeshi nonprofit organization. Alex Counts, President and CEO of the Grameen Foundation, a nonprofit organization based in Washington, DC, supports the report saying, “There are quite a few people who believe that microfinance has lost its way. This Bangladesh survey reminds us that, even in the most difficult circumstances, major progress can be made.”

The results of the survey are consistent with the results of the Bangladesh Household Income and Expenditures Survey (HIES) that estimates approximately 10.62 million Bangladeshis nationwide rose above the poverty line between 1990 and 2005.

By Julie Moksim, Research Associate

About RESULTS Educational Fund (REF): REF is a nonprofit advocacy group that was established in 1983 and is based in Washington, DC. REF conducts research on poverty issues and US spending on poverty programs globally. REF also organizes programs intended to educate the public and policy makers on methods of addressing poverty as well as engaging volunteers to carry out its mission.

About Microcredit Summit Campaign: Microcredit Summit Campaign is a project that was launched by RESULTS Educational Fund (REF), a nonprofit advocacy group that is based in Washington, DC, in 1997. The Campaign’s mission is to help 100 million people rise above the international poverty line of USD 1.25 a day by 2015. The campaign also aims to bring financial and business services to 175 million people, especially women, by 2015.

About Economic Research Group (ERG): ERG is a nonprofit organization that is based in Bangladesh and promotes education and research directed at economic improvement. ERG seeks to bridge the gap between academic research and policy analysis within the context of Bangladesh and other countries of South and Southeast Asia.

Sources and Resources:

Microcredit Summit Campaign Press Release: “10 Million Bangladeshis Move Above $1.25 A Day”, information provided by Microcredit Summit Campaign to MicroCapital

Microcredit Summit Campaign: “Number of Microcredit Clients Crossing the US $1.25 a Day Threshold During 1990-2008, Estimates From a Nationwide Survey in Bangladesh”, http://www.microcreditsummit.org/uploads/files/Bangladesh_Report_FINAL-embargoed.pdf

MicroCapital’s Microfinance Universe Profile: RESULTS Educational Fund (REF)

http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=RESULTS+Educational+Fund+%28REF%29

MicroCapital’s Microfinance Universe Profile: Microcredit Summit Campaign

http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microcredit+Summit+Campaign

MicroCapital’s Microfinance Universe Profile: Economic Research Group (ERG)

http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Economic+Research+Group+%28ERG%29

Browse the MicroCapital Universe and add your entry to the wiki at: http://www.microcapital.org/microfinanceuniverse/