RDF Micro Finance Development Program (MFDP)
Micro Finance (MF) Program of RDF:
The main objective of RDF is to improve the quality of lives of vulnerable and less privileged people of the society. Since inception, RDF stands besides these helpless persons and providing financial and technical support so that they themselves can change their fates one day. Microfinance is a mother program of Resource Development Foundation (RDF). From the inception of RDF, we have been providing the financial services to the poor HHs. Initially we have targeted rural poor HHs and now we targeted urban HHs.
Under the Micro Finance & Development Program (MFDP), RDF is disbursing different kinds of loans like Livestock, Fishery, Small Trading, Micro Enterprise loan, Agricultural loan, Grihayoan Karjokrom loan (house building loan). The main target clients are basically women because they are credit worthy, vulnerable and responsible than men. Since inception to 30th June 2018, RDF disbursed cumulative Tk. 674,93,92,035 to 2,21,211 borrowers under this MF program. Out of total disbursement Tk. 674,93,92,035 Micro Credit (MC) is Tk. 551,51,03,035 and Eeterprize Development Scheme (EDSc) Tk. 123,42,89,000. As of June 2018 our existing clients are 37,500 nos. Out of 37,500 clients women are 34,166 which are around 91%.
The objectives of the MF program are: Primarily- ensure the financial access to the poor, grow savings habit, increased family capital by accumulating small savings. Finally- poverty reduction, women empowerment and sustainable development.
Micro Finance Program is provides services and product which are:
Micro Credit (MC)
Under the Microfinance program, RDF has disbursed Micro Credit loan cumulative Tk. 551,51,03,035 to 2,13,727 borrowers up to June 2018, so that they can generate income for their sustainable livelihood. Now societal picture is changing gradually. The beneficiaries are being treated in the mainstream of the society and taking part in decision making processes.
Most of the Micro Credit loan goes to different agriculture sectors like crop production, poltry & livestock rearing, fisheries and agro-based small trading and transportation. The specific heads of loan disbursed are cow rearing, goat rearing, poultry, beef fattening, duck/hen rearing, paddy cultivation, potato cultivation, agro-farm, vegetable cultivation, nursery, battle leaf. During the year 2017-2018 RDF has disbursed Micro Credit loan Tk. 89,69,75,000 to 24,363 Borrowers.
Under this component, RDF thematically approaching to its Entrepreneurship Development Scheme (EDSc.) and provide EDSc loan basically in three sectors such as trading/off-farm, agricultural and small manufacturing industry. Under these sectors there are so many sub-sectors like small businesses like grocery shop, medicine shop, shoe shop, cloth store, fruit shop, electric & electronic shop, fertilizer & pesticides shop, rice dealer, small restaurant, spectacle & watch shop, ready-made garments shop, cosmetics shop, cattle farm, fish farming, robi crops, beef fattening, agro extension farm, crab farming, furniture manufacturing, handicrafts, tailoring shop, plastic factory, leather products manufacturer, rickshaw or car garage, rice mill etc. RDF also makes a supply chain linkage between seller and buyer from manufacturing to the end users for their manufacturing products. RDF is providing EDSc loan to the small & medium entrepreneurs in the districts of Patuakhali, Barguna, Munshiganj, Gazipur, Manikganj and Dhaka. Upto June 2018, RDF disbursed Tk. 123,42,89,000 to 7,484 small entrepreneurs and during this year 2017-2018 disbursed Tk. 21,17,60,000 to 1,459 entrepreneurs. Pictorial and statistical data of Micro Enterprise Development Component are shown below:
Status of Loan Disbursed in Entrepreneurship Development Scheme (EDSc.) Upto June 2018
|S/N||Activity||Nos. of Borrower||Total Amount Disbursed (Tk.)|
Savings Accumulation :
In addition to the Copulsary savings, RDF has introduced Beneficiary Development Scheme (BDS). These savings activities have been included to protect the beneficiaries from any unexpected accidents, devastating natural calamities etc. This fund helps them in crucial movement when they become helpless. Under the savings accumulation services, RDF carries out the following activities:
Up to June 2018, product wise beneficiary savings balances are shown below:
Accumulated Savings up to June 2018
|Savings Product||Amount in Tk.|
|i) Compulsory Savings||18,99,76,577|
|ii) Beneficiary Development Scheme (BDS)||3,26,76,551|
Beneficiary Kalayan Fund
RDF is committed for sustainable livelihood and risk free living of the beneficiaries. Considering this, RDF introduced couple life insurance Risk Fund for the beneficiaries under the MF program. The special attributes of this scheme is, if a beneficiary dies or fall in a severe accident, her/his spouse will get financial assistance from RDF so that he/she can clear up the unpaid loan. The information of Beneficiary Kallayan Fund is shown in bellow:
Beneficiary Kalayan Fund up to June 2018