Microfinance program
JRDM Microfinance has been playing a significant role to reduce poverty from rural and urban area from its inception at 1995. Gradually, Microfinance has become one of the major program of JRDM through credit support to the target group. Generally, the poorer sections of the society are excluded from formal banking services. As a consequence, they are deprived from financial assistance for investing in productive activities or saving scheme for their future! benefits.
RDM has truly orchestrated a way for poverty alleviation through microfinance along with human resource development, income generation and other promotional activities. Every year, we are helping thousands of poor women and men to get involved in different income generating activities with the credit received at a reasonable rate and achieve self-reliance through financial and social empowerment.
Jagoron Program
JRDM initiated its loan activities in 1995 with Jagoron Credit targeting the rural & Urban poor, women in particular limited scale utilizing the savings of the target groups as well as own fund of the organization. The main purpose of Jagoron was to provide small amount of fund for undertaking /operating Income Generating Activities (IGAs) so that the target people are provided with employment opportunities, and reducing their dependency on money lenders with high usury, on the other hand. The Jagoron, with the support of PKSF in 1997, started expanding overtime. Presently JRDM is working in 844 villages of 117 unions of 19 upazilas under 5 districts covering 28482 group members, above 99% women. Not only savings accumulation, loan disbursement, outstanding etc. are increasing at a higher rate, JRDM has been always maintaining a satisfactory rate of recovery since inception (above 99%). The actual service charge is 24% (on declining balance), for a period of 1 year, with weekly repayment system. The important achievement of JRDM Jagoron is that a large number of poor members, especially the women are not only self- employed and maintaining their families with satisfaction, but are socially empowered than ever before.
In FY 2023-2024, JRDM’s disbursement to grass-roots partners under Jagoron was BDT 883.30 million and recovery during the same period was BDT 632.62 million, and at the end of the June 2024 the outstanding Jagoron loan stood at BDT 491.85 million.
Agrosor Program
Goal
To ensure women empowerment by creating productive and environment friendly income generating opportunities that contributes in GDP through ensuring sustainable development and financial security.
Objective
To encourage employment and income generation through entrepreneurship for JRDM
microcredit members and new entrepreneurs.
To expand existing small enterprises and develop new ones.
To explore business leadership through enterprise development and business management training.
To explore new avenues of livelihood for reducing rural and urban poverty.
To establish value chain management for new entrepreneur by developing traditional sector and sub sector.
To create smooth market linkage to assist the entrepreneurs for their marketing.
To ensure women participation in national development.
Target Clients
JRDM Microcredit program members who have completed at least one year with the groups, especially the women owner of potential enterprises and new potential entrepreneur from community.
Facts and Figures
JRDM has been providing technical support as well as credit facilities to JRDM Agrosor borrowers. The program has encouraged urban and rural microcredit borrowers to take non traditional roles in creating, expanding and managing small entrepreneurships. The service charge of the product calculated in 24% balance reducing rate. In FY 2023-2024, JRDM’s disbursement to grass-roots partners under Agrosor was BDT 1068.57 million and annual loan recovery during the same period was BDT 907.66 million, and at the end of the June 2024 the outsanding Agrosor loan sood at BDT 644.71 million.
Buniad Program
Peoples whose daily income is less than one dollar, those who are deprived from their daily basis necessities and are surviving malnourished, are illiterate and lack awareness, do not have any resources, does not have any skill etc. these classes of people have been organized and brought under this program. JRDM has been working with these destitute people from its very inception.
The objectives of this program are-
To create awareness among the ultra poor population on their own rights, equality, proper utilization of resources etc.
To create the urge for savings;
Human resource development through improving their skills.
To increase incomes provide microcredit.
To create opportunities for additional income for the family.
Keeping the above objectives in mind, JRDM with the financial assistance of PKSF extensively started this program in 2005 with the target population to develop them. The people who are helpless, illiterate, having no resources of their own have already proved that given the proper training and assistance they are fully able to develop their socio-economic condition like others in the society. To increase the skills of the group members, training is being provided to them on goat & poultry rearing and tailoring.
Achievements of the program are as follows;
Through savings, money for capital has been easily accumulated;
Increased awareness and education;
Get ideas on the basic needs any play active role to fulfill those;
Receiving loans quickly on easy terms and conditions;
Women earning additional income for the family side by side with men;
Receiving trainings and loans ultimately improved the living standard.
FY 2023-2024, JRDM’s disbursement to grass-roots partners under Buniad was BDT 64.49 million and annual loan recovery during the same period was BDT 77.34 million, and at the end of the June 2024 the outstanding Buniad loan stood at BDT 31.96 million.
Sufolon Program
Through the implementation of microfinance activities, JRDM has observed that most of the beneficiaries are involved in agriculture based seasonal activities. They face financial crisis for agricultural production purpose. As a result they are not getting expected production. To increase their production and make them financially well off, JRDM has initiated to implement the program. JRDM firmly believes that this a part of multidimensional microfinance activities assisting the farmers in due time with positive outcome.
Increasing popularity of beef fattening activity among the borrowers for making income can be mentioned as an outcome of Sufolon loan. Especially before Eid ul Azha that requires supply of a huge number of cattle heads for sacrifice as a result the price of cattle heads escalates in the markets. In the context of seasonal crisis, fattening has become popular across communities and to this effect; JRDM offers financial support to interested borrowers to make an income. This is now a popular way of making seasonal income across the program areas and the demand for support is gradually increasing every year.
Bangladesh is country where, directly or indirectly, almost 80% of total population is involved in agriculture sector. Agriculture has almost 18% contribution to our GDP and JRDM believes that poverty alleviation is impossible without agricultural development.
In this contest JRDM has initiated its agriculture credit program from 2011 with the financial support of PKSF. Through Sufolon, JRDM provides seasonal agriculture loan to its borrowers at the start of particular season and collects it from farmers after harvest. As a result, farmers can utilize agricultural inputs properly and they can avail materials to increase their production.
FY 2023-2024, JRDM’s disbursement to grass-roots partners under Sufolon was BDT 786.87 million and annual loan recovery during the same period was BDT 724.32 million, and at the end of the June 2024 the outstanding Sufolon loan stood at BDT 501.09 million.