Palli Karma Sahayak Foundation Chairman Kazi Khaliquzzaman Ahmed yesterday said strong rural economy is necessary for sustainable development in the country.
Sustainable poverty alleviation is not possible only through micro financing, he observed, saying that sustainable development also incorporates into it education, health, social and environmental issues.
The observation came at a national convention on “Towards Poverty Alleviation and Social Development: The Role of MFIs” jointly arranged by the Institute of Micro Finance, Micro-credit Regulatory Authority (MRA) and PKSF in the capital.
State Minister for Ministry of Finance and Planning MA Mannan attended the first session of the convention as chief guest.
Khaliquzzaman stressed the need for a boost to the rural economy to advance the progress of the country.
He said stimulating rural economy is a must in the best interest of the country’s GDP.
The 6% GDP growth will not be possible to achieve if the rural economy is ignored, observed the PKSF chairman.
Speaking as special guest, Bangladesh Bank Deputy Governor SK Sur Chowdhury said micro finance institutions have provided financial support for rural people.
The demand for loan among the rural poor has increased because of interaction between rural and urban economy, he said, adding that it is only due to increased flow of money to the rural economy through micro finance institutions.
Banks and non-bank financial institutions are also providing support to the marginal farmers, he said.
Sur Chowdhury maintained that Bangladesh Bank is also trying to bring unbanked people under the banking services through financial inclusion programmes.
The central bank has created refinancing schemes to support farmers by giving loan at lower interest rate.
