Seasonal and Extreme Poverty in Bangladesh : Evaluating an Ultra-Poor Microfinance Project
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Microfinance is often criticized for not
adequately addressing seasonality and hard-core poverty. In
Bangladesh, a program known as PRIME was introduced in 2006
to address both concerns. Unlike regular microfinance, PRIME
introduces a microfinance scheme that offers a flexible
repayment schedule and consumption smoothing, as well as
production, loans. It targets the ultra-poor, many of whom
are also seasonally poor, with a severe inability to smooth
consumption during certain months of the year. Besides
providing loans, PRIME offers extension and training
services. This paper uses a quasi-experimental survey design
to evaluate PRIME against regular microfinance programs. The
results show that PRIME is more effective than regular
microfinance in reaching the ultra-poor, as well as the
seasonal poor. PRIME also helps reduce seasonal deprivation
and extreme poverty. Although the program has demonstrated
its promise, it is too early to conclude whether the accrued
benefits are large enough to contain both seasonal and
chronic poverty on a sustained basis.
Palabras clave
ACCESS TO FOOD, AGRICULTURAL ACTIVITY, AGRICULTURAL LABORERS, AGRICULTURE, ANTI-POVERTY, ASYMMETRIC INFORMATION, BASIC FOODS, BENEFICIARIES, BETTER ACCESS TO MARKETS, BORROWERS, BUDGET, BUFFER STOCKS, CASH TRANSFERS, CHECK, CHRONIC POVERTY, COLLATERAL, CONSUMPTION DATA, CONSUMPTION INSURANCE, CONSUMPTION SMOOTHING, COUNTERFACTUAL, CREDIT CONSTRAINT, CREDIT MARKET, CREDIT MARKET CONSTRAINTS, CREDIT MARKETS, CREDIT PROGRAM, CREDIT PROVISION, DAILY WAGE, DEFAULT, DEFICITS, DIMENSIONS OF POVERTY, DISCOUNT, DISCOUNT RATE, DIVERSIFICATION, DURABLE, EMPLOYMENT OPPORTUNITIES, EXCHANGE, EXTREME POVERTY, EXTREME POVERTY LINE, FAMINE, FAMINES, FARM SECTOR, FARMERS, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FLEXIBLE REPAYMENT, FOOD BASKET, FOOD CONSUMPTION, FOOD COUPONS, FOOD EXPENDITURE, FOOD EXPENDITURES, FOOD INSECURITY, FOOD INTAKE, FOOD ITEMS, FOOD POVERTY, FOOD POVERTY LINE, FOOD PRICES, FOOD SECURITY, FRUITS, FUTURE, GOOD, GOODS, HAZARD, HOLDING, HOUSEHOLD CONSUMPTION, HOUSEHOLD CONSUMPTION PER CAPITA, HOUSEHOLD DISTRIBUTION, HOUSEHOLD HEAD, HOUSEHOLD INCOME, HOUSEHOLD NEEDS, HOUSEHOLD PARTICIPATION, HOUSEHOLD SURVEY, HOUSEHOLD WELFARE, HUMAN CAPITAL, INCIDENCE OF POVERTY, INCOME, INCOME FLOWS, INCOME-GENERATING ACTIVITIES, INFORMAL CREDIT, INFRASTRUCTURE DEVELOPMENT, INSURANCE, INTEREST, INTEREST RATE, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, LAGGING REGIONS, LAND ASSETS, LANDHOLDINGS, LENDING, LENDING PORTFOLIO, LIQUIDITY, LIQUIDITY CONSTRAINTS, LOAN, LOAN CONTRACTS, LOANS, LOCAL ECONOMIES, LOCAL ECONOMY, LOCAL INFRASTRUCTURE, LONG-TERM INVESTMENTS, MARKET, MEAL, MEASURES, MEAT, MICRO-CREDIT, MICRO-FINANCE, MICROCREDIT, MICROCREDIT PROGRAMS, MICROFINANCE, MICROFINANCE INSTITUTIONS, MILK, MORAL HAZARD, NUTRITION, POLITICAL ECONOMY, POOR, POOR BORROWERS, POOR HOUSEHOLDS, POOR WOMEN, POVERTY INCIDENCE, POVERTY LINES, POVERTY MEASURES, POVERTY PROGRAMS, POVERTY REDUCTION, POVERTY STATUS, PRIVATE INVESTMENTS, PROPERTIES, PROTEIN, PROVISION OF CREDIT, PUBLIC WORKS, PULSES, REAL INTEREST, REAL INTEREST RATE, REGION, REGIONS, REMITTANCE, REMITTANCE SERVICES, REMITTANCES, REPAYMENT SCHEDULE, RETURNS, RICE, RISK POOLING, RURAL, RURAL AREAS, RURAL DEVELOPMENT, RURAL POOR, RURAL POVERTY, RURAL POVERTY RATE, SAFETY NET, SAFETY NETS, SAVINGS, SHARE, SHARES, SMALL FARMERS, STARVATION, STOCK, TARGETING, TRANSFERS, VEGETABLES, WAGE EMPLOYMENT, WELFARE INDICATORS, WFP, WORLD FOOD PROGRAMME