Effect of Microfinance On Poverty Alleviation and Economic Growth: A Study On Bangladesh

The purpose of this paper is to examine the influence of microfinance on poverty reduction and economic growth. The study is based on a literature review of studies conducted by various academics in various circumstances. Microfinance has grown in popularity as a method of reducing poverty by giving the poor new chances for entrepreneurship. It also tries to increase social capital in deprived areas while promoting empowerment, particularly among women. This study shows that microfinance can be a critical component of a successful poverty reduction approach, particularly in rural areas. This study is based on secondary data and was created using descriptive analysis. Following an examination of the data and information gathered, it is clear that microcredit can be considered an effective strategy for poverty reduction in developing nations such as Bangladesh. To be more certain about how much and how microcredit lowers poverty, more research and study need to be done in the future