Empowerment of rural women through microfinance in Bangladesh: Empirical evidence from the Grameen Bank of Bangladesh

Abstract

The study’s goal is to evaluate how microfinance initiatives affect women’s empowerment in Bangladesh. For this study, we analyzed data on a variety of women’s empowerment-related issues, including both beneficial and detrimental elements that stand in the way of women’s empowerment. Therefore, in order to accomplish the specified goal, we choose a suitable and intentional methodology. We employ diverse data gathering approaches to examine the gathered data and achieve the primary goal of the research project. It presents the positive effects of microfinance on women, such as (1) the enhancement of women’s authority in financial affairs; and (2) the augmentation of their ability to make decisions in household; and (3) community matters following their participation in the microfinance program. This also provides an analysis of the data pertaining to the adverse effects of microfinance on women. It examines how women encounter various challenges and engage in unethical behaviors after obtaining a loan, leading to heightened levels of stress following their participation in the microfinance program. This study looks into the advantages and disadvantages of Grameen Bank’s microcredit program for women. A questionnaire gathered primary data for this study from women participating in the microfinance program in Gopalgonj. To collect information and comprehend respondent behavior, I used case study, analytical and descriptive study design. Regression analysis, correlation, and percentage are used to examine the data. The findings indicate that women’s decision-making skills have improved due to their financial stability, but they have also experienced increased life challenges and high levels of stress.