The Microcredit Regulatory Authority (MRA) and the International Finance Corporation (IFC) have signed an agreement for a USD 350,000 project aimed at enhancing the capacity of microfinance institutions (MFIs) in Bangladesh. The project will promote digital financial services (DFS) and expand access to housing loans for low-income communities.
The project, titled “Bangladesh Microfinance Sector Development (BMSD),” will support MFIs in transitioning to digital platforms and assist in providing short- and medium-term housing loans. The agreement was signed at the MRA headquarters by Professor Dr Mohammad Helal Uddin, Executive Vice Chairman of MRA, and Mr Mehdi Charqui, Manager at IFC.
The initiative follows a 2023 study that laid the groundwork for the project. The goal is to foster financial inclusion, particularly for women, and improve living standards by providing accessible housing finance. It will also build MRA’s internal capacity and develop policies and guidelines related to digital financial services and housing microfinance.
The project is set to run for 18 months and includes a series of capacity-building activities for MRA officials, such as workshops and training on digital transformation and housing microfinance.
