International Development written question – answered on 22nd October 2012.

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Photo of Anne Main Anne Main Conservative, St Albans

To ask the Secretary of State for International Development what outcomes are expected from the Promoting Financial Services for Poverty Reduction in Bangladesh programme; and how the project was implemented in Bangladesh.

Photo of Alan Duncan Alan Duncan The Minister of State, Department for International Development

The Promoting Financial Services for Poverty Reduction (PROSPER) programme (2007-14), contributes to the strengthening of the microfinance sector in Bangladesh.

The first component of the programme, called PRIME, is implemented through Palli Karma Sahayek Foundation (PKSF) and will provide flexible savings and loan products to 600,000 micro, and small enterprises, enabling people to pursue income-generating opportunities and so raise their living standards.

The second component supports the establishment and operations of the Microcredit Regulatory Authority so that appropriate regulatory frameworks are developed for the microcredit institutions in the country. This helps reduce fraud and ensure that the poor's savings are protected.

The third component supports the Institute of Microfinance to conduct analytical and operational research on microfinance issues, and provide standardised training to the large number of microfinance professionals in the country.

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