COVID-19 AND RESILIENCE OF MICROFINANCE PROGRAM IN BANGLADESH

Bangladesh is the pioneer of microfinance in the globe. Last few decades, the microfinance programs of Bangladesh took a strong institutional shape and it also diversified with changing demand of poverty-stricken people over the time. As Bangladesh has achievedremarkable success in microfinance with sustainability, a few of models of poverty elimination have been replicated in different countries of the world. On the other hand, as a disaster-prone countryBangladeshs Microfinance Institutes (MFIs) have demonstrated proven and outstanding capabilities in dealing with natural disasters and other emergenciesat the local and national levels. The worldwide outbreak of COVID-19, still fresh and prevailing, has severely damaged the economy of Bangladesh. The objective if this study is to understand how the MFIs of Bangladesh are tackling the shock created by the pandemic Covid-19 and finding the way out. Relevant literatures were surveyed as this is certain to state that the hardest hit by COVID-19 are day laborers and small business groups who belong to below poverty line. However, the MFIs could be able to manage the first shock caused by COVID-19. But the second shock within a year made them vulnerable and the impact of third shock, if appears, may raise the question of survival that may be unmanageable. This article makes efforts to unfold some ways out of the dire situation and bring some lights of hope for better revivification for both MFIs and their clients.