Brac records robust growth in microloans

Brac's microcredit disbursement among the poor grew 28 percent year-on-year in 2014.

The world's largest development organisation rolled out over $1.09 billion among 5.5 million clients last year, compared to $859 million in 2013.

Of the borrowers, 95 percent were women, according to Brac's annual report released yesterday.

Before giving loans to the poor, Brac trained its clients in financial literacy to promote confidence and understanding.

Around 800,000 clients received short orientation prior to taking loans and 85,000 vulnerable clients received an intensive financial literacy course.

SN Kairy, chief financial officer of Brac, said they put emphasis on employment creations for the poor by providing assets and cash under the microfinance programme.