Livelihood Development Program
VERC is implementing Micro Finance Program with the disadvantaged and underprivileged poor people particularly with women as per the program strategy. VERC is also reaching the poor ethnic minority to fulfil the demographic coverage goal with Micro Finance Program for overcoming their helplessness, dependency and deprivation in the society. From the very beginning of initiating Micro Finance Program, VERC is expanding the areas and coverage of people gradually in the remote and isolated areas of Bangladesh with a view to outreach coverage and the sustainability of the organization as well. Besides the area expansion and population coverage, VERC is increasing multidimensional lending service delivery system by opening different wings gradually keeping relevance with the market demand and ensuring access to comparatively big size of investment amount in the rural and urban micro economy sectors. It has introduced new dimensions of investment in agriculture with a view to contribute in making agriculture a more dynamic sector of development. At the same time, VERC is providing skill development training in agriculture other income generating trades along with leadership development, human rights and awareness raising training to the loan recipients prior to starting income generating activities.
To create a community force capable of planning, operating and managing need based development programs to overcome the socio-economic problems associated with poverty and improving socio-economic status.
To raise the economic status of the poor people by engaging them in income generating activities and consequently make them self-reliant and improving their social status. VERC believes that without a positive change of the economic status of the poor people all types of development activities will prove to be futile and from this reality based feelings, VERC started Micro Finance program in selected locations of the country in 1982. VERC obtained PKSF Partnership in 1996 and Micro-Credit Regulatory Authority (MRA) awarded membership for operating credit program as per rules of the Government in 2006. VERC operates all of its Micro Finance programs in 2,014 villages of 281 unions under 51 Upazilas of 15 districts in Bangladesh. The program is managed by 563 staffs working under 60 branches spreading across the country.
Main activities carried out in each specific program in brief
Ongoing IBIG Program has 10 Wings or product lines:
06. Kuwait Goodwill Fund (KGF) for the Promotion of Food Security in Islamic Countries Program
07. Agriculture and Livestock Unit
08. Enhancing Resources and Increasing Capacities of Poor Households towards Elimination of their Poverty (ENRICH) Program
09. Developing Inclusive Insurance Sector (DIISP) Project
10. UPP-Ujjibito project