Micro Finance for Marginal and Small Farmers (MFMSF) Program

Majority people of our country live in the rural areas and they depend mainly on agriculture and agriculture based local business for livelihood. They could not make an optimal level production due to lack of capital and need based skills. Under the program VERC has been trying to increase their capital by providing credit support with PKSF fund under MFMSF project and training since July 2005. On the other hand, awareness raising activities on social issues were also organized for them. Besides, to build up their skill, need based training is also going on among the beneficiary groups. Through the program, Marginal and Small Farmers are getting great opportunities for savings and micro life insurance and also crop insurance policy. As a result, in case of any disaster, they will not face any problem regarding fund. This program made them confident to increase their production and making them self-supportive. Till June 2010 no of Members is 4,097; No. of Borrowers - 3,426; Loan Outstanding (portfolio) is Tk. 3,26,27,391; Savings Outstanding - Tk. 46,78,775; Member Welfare Fund Outstanding -Tk. 7,77,027 and recovery rate is 99.95%.