Abstract: This is an empirical study with qualitative and quantitative data about the impact of microfinance program of SAP Bangladesh. The study reviewed the related scholarly publications, such as journals, agency reports, and newspapers. The results show that the beneficiaries of microfinance programs benefit greatly in terms of reduced poverty, increased income, and increased savings. To a lesser extent, microfinance programs also contribute to job creation, but not nearly enough. The results show that microfinance service holders’ savings and consumptions increased as well since they now have a better living standard. In order to promote socioeconomic development, economic growth, and most importantly, the eradication of poverty, the conclusion emphasizes the necessity of accelerating microfinance initiatives. More training programs must be started in order to expand activities, and policies must be implemented correctly.
Masum Billah Patowary, S. M. Rifat Hassan, Arijita Roy, Tarina Kamal (2024). The Impact of the South Asia Partnership-Bangladesh Microfinance Program on the Socioeconomic Development of Bangladesh: An Empirical Evidence. International Journal of Scientific Development and Research, 9(6), 971—978. ISSN: 2455-2631.
