BRAHMANBARIA Correspondent:

The Bashundhara Foundation has distributed interest- and service charge-free microloans among 426 poor women in Brahmanbaria’s Bancharampur upazila to help them engage in income-generating activities and become financially self-reliant.

A total of Tk 8 million was distributed at the 84th microloan disbursement ceremony held at the Jagannathpur Modern Auditorium in Bancharampur on Monday afternoon.

Upazila Nirbahi Officer (UNO) Md Al Emran Khan and Bashundhara Group Adviser Moynal Hossain Chowdhury handed over the loan money to the beneficiaries at the event.

The Bashundhara Foundation has been operating its interest- and service charge-free microcredit programme in Bancharampur since 2005. The initiative has subsequently been expanded to neighbouring Nabinagar upazila and Homna upazila of Cumilla.

According to the speakers at the programme, around 31,000 poor women from 101 villages across the three upazilas have benefited from the loan programme over the past 21 years.

Several beneficiaries said they were using the loans for income-generating activities such as poultry and livestock farming, agriculture and small businesses. They said the initiative had helped increase household income while also creating financial independence for women.

Kulsuma, a resident of Durgarampur village, said she had previously taken loans from the Bashundhara Foundation three times and invested the money in raising ducks, chickens and goats.

“Each time I made a profit, but the money was later spent on my daughter’s marriage and my son’s education. This time, I have taken a loan for the fourth time and want to invest it again in an income-generating activity,” she said.

Parvin Akter of Asadnagar village said she had been receiving interest-free loans from the foundation for several years.

“I started with a loan of Tk 5,000. This time I have received Tk 20,000. I use the money for farming and poultry rearing and contribute financially to my family,” she said.

Momena Akter of Paratali village, who has received a loan for the fifth time, said she had been able to increase her family’s income by investing the money in cattle and goat rearing.

Another beneficiary, Halima of Asadnagar village, said she invested her loan in her husband’s auto-rickshaw repair shop.

“We are gradually expanding the business with the profits from the shop. It has brought financial relief to our family,” she said.

Speaking at the event, UNO Md Al Emran Khan said high-interest loans often make the cycle of poverty more complicated for low-income people.

“Many families face financial hardship while struggling to repay loans. In this situation, the Bashundhara Foundation’s interest-free loan programme is giving poor people an opportunity to become self-reliant,” he said.

He added that the loan programme includes a three-month grace period, allowing beneficiaries to invest the money in income-generating activities before having to begin repayment.

“This gives them an opportunity to start businesses or other economic activities without immediate repayment pressure,” the UNO said.

Bashundhara Group Adviser Moynal Hossain Chowdhury said the foundation’s initiative of providing microloans without interest or service charges was an example of a humanitarian effort.

“For more than two decades, this programme has given nearly 31,000 women in three upazilas an opportunity to become financially self-reliant,” he said.

He urged the beneficiaries to use the loan money only for lawful and income-generating purposes.

“Through small-scale enterprises, establish yourselves financially and stand by your families,” he told the loan recipients.

Local residents said the Bashundhara Foundation’s social initiatives, along with its interest- and service charge-free microloan programme, were making a positive impact on poor communities in the area.

They said many women had received vocational training and sewing machines, while students had also received support for their education from the Bashundhara Group. Such initiatives, they added, had helped many families recover financially and improve their livelihoods.

The programme was moderated by Md Chan Mia Sarker.

Bashundhara Foundation DGM Maimun Kabir, Deputy Manager Mosharraf Hossain, Shuvosangho Director Zakaria Zaman and other officials and local representatives were also present at the event.