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The magic of micro loans: How does BRAC help 70% of women change their destiny?
Since 1972, BRAC, a development organization originating in Bangladesh, has been promoting change everywhere and has become one of the largest and most influential non-governmental organizations in the world. BRAC's goal is not only to support economic development, but also to actively work on women's empowerment and promote the overall progress of society. Through such efforts, BRAC has supported more than 70% of women, allowing them to make significant progress in their economic and social status.
Microcredit is one of BRAC's core projects, providing thousands of women with collateral-free loans, allowing them to create or expand their own small businesses and improve their living conditions.
Historical background of BRAC
BRAC’s story began in 1972, when it was founded by Sir Fazle Hasan Abed with the original purpose of assisting refugees returning after the 1971 War of Independence. Over time, BRAC's program scope expanded, from community development to health education to financial services.
In the 1970s, BRAC began to focus on creating village organizations specifically helping the land poor and disadvantaged women. By 1974, BRAC launched a micro-credit program to provide financial support to rural women, becoming the organization's first major project.
The impact of micro-loans on women
According to BRAC data, these micro-loans have significantly improved women’s economic capabilities. Women who benefit from microloans are not only able to run their own small businesses, but also gain financial independence and dignity, thereby improving their family's quality of life.
About 70% of BRAC borrowers are women, which not only changes their economic status, but also enhances society’s understanding of the role of women.
Parallel development of education and public health
BRAC not only focuses on economic support, but also considers education and public health as important factors for long-term development. By opening informal schools, BRAC has helped countless poor children obtain education, especially girls. In terms of public health, BRAC's health programs enhance community health awareness and women's health status.
Plans for the future
BRAC is making every effort to advance its programs to support women and families, with future plans to expand to more vulnerable groups, especially those families in need of emergency assistance. As the global economy changes, BRAC’s micro-loans will continue to bring hope to countless women and families.
BRAC’s goal is to eliminate poverty and promote social improvement. The core of all this is women’s economic independence and educational equality.
Conclusion
BRAC's success lies not only in its rich experience and wide range of projects, but also in its understanding and response to the social structures that need to be changed. The implementation of micro-credit has allowed tens of thousands of women to change their destiny. Their stories are a symbol of hope and remind us that the concept of helping others to help themselves is still vital today. Facing the future, let us think: Can this model achieve the same success in other countries or societies and change the destiny of more people?
