625 million adults in South Asia and 350 million adults in Sub-Saharan Africa do not have access to formal financial services. They still manage their finances in age old ways, such as hiding cash, or borrowing from loan sharks. These choices are often risky, unreliable and expensive. We believe that responsibly delivered financial services can be transformative for people living in poverty.
We are one of the largest providers of financial services to households rising out of poverty across seven countries in Asia and Sub-Saharan Africa. We want to build a financially inclusive world – one in which every individual has access to high-quality, affordable financial services. Our microfinance activities offer a wide range of financial solutions to people who are excluded from the formal financial system and is part of our holistic approach to development. With the help of microfinance, families are able to enhance income, smooth consumption, build assets and reduce vulnerability to shocks. We understand that people living in poverty have heterogeneous financial needs, and hence, we innovate and develop new products tailored to meet their diverse needs. We ensure that all financial services are provided based on a thoroughly vetted assessment of the client’s financial ability and are delivered responsibly.
- 525,414 borrowers reached including those with low incomes, small entrepreneurs, farmers, low-income salaried workers and adolescents, an increase of 18% from 2015
- USD 223 million disbursed, an increase of 33% from 2015
- 96% of the clients we served were women
QUOTE “The billion dollars in microloans that BRAC extends each year to poor people is just the beginning of the story of this remarkable organisation”.
– George Soros, chairman of the Open Society Institute
We continue to grow and innovate our products and delivery channels to provide the right type of products to as many people as possible. Our commitment to financial inclusion is the focus of our mission. We aim to continue to serve millions of clients in a way that is responsible and responsive to their needs. Our goal will be reached when every person has access to financial products and services.
YOUR SUPPORT helps us further our reach across the globe and give financial access to those who need it in a way that is responsible because we understand that our clients are the most vulnerable in society.