Nearly 2 million Bangladeshi households involved in microfinance – including almost 10 million family members, on net – rose above the $1.25 a day threshold between 1990 and 2008. These figures were released in a report by the Microcredit Summit Campaign today.
A survey of more than 4,000 Bangladeshi households, led by Sajjad Zohir of the Dhaka-based Economic Research Group, found that a dramatic number of families moved out of poverty between 1990 and 1997, but that a massive flood in 1998 and the food and fuel crisis of 2008 were the likely cause for millions of families to fall below the $1.25 a day threshold during that later period. Even with these setbacks, on net nearly 10 million people rose above poverty.
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