The Effectiveness of Micro credit in Poverty Mitigation in Bangladesh

Microcredit institutions are currently working to mitigate poverty in Bangladesh. Grameen Bank with its microcredit programs are the pioneer in this field. Dr Younus and his Grameen Bank have given Bangladesh worldwide recognition with its microcredit program in mitigating poverty. However, the concern is to what extent the microcredit is effective in mitigating poverty in Bangladesh focusing on Grameen Bank¿s microcredit program and other microcredit institutions. Grameen Bank should reconsider its approach and interest rate and focus more on poverty mitigation rather than profit making. The same is applicable to other microcredit institutions as well. The government should work together with Grameen Bank and other microcredit institutions and collaborate with them in the fight against poverty.