Growth of microfinance and impact on poverty alleviation in Syangja district

Abstract

This study examines growth of microfinance and impact on poverty alleviation in Syangja district. This study is based on descriptive research design and causal comparative research design.Correlation and regression analysis is used to analyze the data. This study shows that customers or clients believe both micro credit and training

significantly influence their poverty alleviation, which they perceive as important. The correlation

analysis reveals micro credit has a significant positive association with poverty alleviation. Likewise, savings has a significant positive relationship with poverty alleviation. At the same time, training has significant positive correlated with poverty alleviation. Moreover, there is a strong positive correlation between micro insurance and poverty alleviation. The regression analysis reveals micro credit has a significant positive impact on poverty alleviation in Syangja district. Similarly, savings also positively influences poverty alleviation. Further, both training and micro insurance have significant positive impact on poverty alleviation. In conclusion, growth of microfinance has significant impact on poverty alleviation in Syangja district. According to the study's conclusions, microfinance services need to be simpler for customers to utilize in order to be made available to people in all of Bangladesh's regions and aid in the nation's swift economic growth. Financial education may be used to increase understanding of microfinance services' collection, usage, and return policies. Policymakers may also provide some guidance on how to fight poverty throughout the remainder of their life.

Keywords: Poverty alleviation, micro credit, savings, training and micro insurance