Role of Microcredit in the Development of Rural Women of Bangladesh: Microcredit and Women Empowerment

Microcredit operations began with the specific objective of poverty alleviation in Bangladesh. Poverty is widespread in Bangladesh. It is even more intense among the rural women of the country. Poverty situation improved with the expansion of microcrdit and rural women gained some empowerment as they had their own income through participation in the credit activities. But they are still far from achieving equal status with men because microcredit primarily addresses income poverty and it has inherent weaknesses in facilitating other conditions necessary for full empowerment of women. Not only are the inherent weaknesses, the socio-economic environment of rural Bangladesh, where microcredit functions, is also a big impediment to achieving women empowerment. Therefore, a comprehensive approach, which includes microcredit too, is necessary for further empowering the rural women of Bangladesh. This approach includes social mobilization, awareness-building, regulations enhancing, equitable financial practices and government initiatives.