In accordance to our aim towards financial inclusivity, we have our Micro-Finance Program.
In today’s world, the term micro-finance is more than just a method of financing, it is a tool for economic development comprising of new methods of inclusivity. Therefore, the principal purpose of our micro-finance program is to provide credit to those who have plenty of investment prospects around but face a shortage or lack of capital. We work mostly with the Adibasis and the poor people of Bangladesh, especially ones in the Northwest of the country, focusing on women. Through this program, we enable them to create a sustainable living for themselves, putting extra emphasis to adding value through skills training, value chain and market linkage of clients.
- MF is operating in 27 sub districts via a total of 3,676 Samities with 56,323 members. Out of those 56,323 members 30% are Adibasis and 70% comprise of the poor.
- 50 out of 60 branches have been brought under automation process.
- Out of the total outstanding 41.17% from member’s savings, 23.49% came from retained earnings, 14.18 % from PKSF, 16.05% from the bank and 5.11 % from Stromme Foundation.
- Operational Self Sufficiency (OSS) is 145.65%, on time recovery rate (OTR) is 99.32% and operating cost ratio is 75.77%.
Moreover, we have introduced the following Micro-Credit Projects.
- Credit plus technical services to borrowers .
- Service holders’ loan .
- Micro-insurance for livestock rearing.
In Bangladesh, the livestock rearing sector has great potential for creating employment for small and marginal farmers, as well as for poor families, especially for cattle fattening. Livestock health care services, such as vaccination, are never available on time in remote or rural areas. In order to increase the growth, productivity and investment in the livestock rearing sector, Ashrai has introduced micro-insurance for livestock rearing with its micro-finance program.
Social Development Program
As part of our goal of social inclusivity, we have our Social Development Program.
A second follow-up project of the Income and Food Security for Ultra Poor (IFSUP), we assure access to the basic necessities of survival.
With the help of development projects, we have successfully guaranteed the food security of 13,335 tribal and ultra-poor households in Barind region. We breed empowerment in the form of social security, human rights, and justice through mobilization, along with development of Self Help groups and Self Help Institutions for the Adibasis and poor people.
Donors: BMZ, NETZ
Period:May 2014 to December 2017
As part of the child education program, we aim to increase the literacy rate of Adibasi children and other poverty-stricken minorities.
60 NFPE (non-formal primary education) schools have been set up, in which 1,583 students are enrolled. The main program is for 6-10 year olds and they learn subjects such as Bangla, English, Mathematics and Social or Environmental Sciences. After 5 years of schooling, they can join mainstream government or non-government high schools. Moreover, these kids are given supplementary food support for 30 days during Monga period and periodical medical checkups. On top of regular lessons, they also observe various national holidays.
Donors: GermanDoctors, BMZ
Period:January 2017 to December 2020
In order to strengthen climate resilience for poor people in the most climate vulnerable areas of the Barind region, we implemented climate change and adaptive livelihood program while promoting adaptive technology.
BARI, BRRI and BINA released varieties such as BARI Dhan 28, 56, 62, BINA 7 of rice variety, BARI Sarisa 16 of Mustard variety and BARI Gom 26 of Wheat; these are high yielding and drought tolerant, requiring only a minimum amount of water. The main objective of Regenerative Agriculture System for Sustainable Livelihood (RASLB) is to ensure food security, increase crop production, livestock management, health risk reduction of women and children by providing improved cooking stoves, and tube-well installation for safe drinking water. We have also developed business clusters in livestock and off farm sectors to promote value chain development activities for sustainable income, and employment creation.
Donors:World Bank with PKSF
Period:August 2013 to December 2016
For the poverty-stricken rural women who are enthusiastic about fashion/embroidery work, we help them grow as entrepreneurs as well as develop their skills so that they can be successful in developing a garments factory.
Women Entrepreneurship and Employment Creation Project (or WEECP) was initiated by such local women themselves; what we do is provide technical and financial support, in order to improve their skills, as well as help to them promote their market through organized fairs. Ashrai organized pilot projects for technical support from PKSF under its FEDEC program. Total 20 entrepreneurs and 320 women embroidery workers were supported through this project.
Donors:PACE of PKSF and IFAD
Period:October 2016 to September 2017