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THE INSTITUTE OF RURAL DEVELOPMENT (IRD)

BASIC Feroza Garden, 222/Kha, (1st floor), Flat # C-2, Malibag, Dhaka-1217, G.P.O Box- 3725, Bangladesh,

Tel: 88-02-9361353, 01714098359, Fax: 88-02-9343501, 88-02-8321085. E-mail: ird@bangla.net  

IRD Brochure

Introduction:

The institute of Rural Development Ė IRD is a Micro Finance Institute (MFI). IRD started its micro-credit activity from 1st January, 1999 in greater Narayangonj district. To make the deprived and poor people of the society self-dependent particularly to make rural woman self-dependent and for their betterment IRD took up this programme / scheme. Through this scheme IRD started its activity by giving easy term loan to a group of 20 Ė 30 people. An associate organization of Bangladesh Human Rights Commission, IRD is currently carrying on its activity in Rupganj, Arai Hazar and Sonargaon upzilla of Narayangonj district, Narsingdi Sadar, Palash and Shibpur upzilla of Narsingdi district. Kaligang, Tongi and Sadar upzilla of Gazipur district and Savar and Uttara thana of Dhaka District. Besides initiative has been taken to conduct IRD loan activity in Demra, Motijheel and Airport thana of Dhaka. The main objective of IRD loan scheme is to make the women self-dependent. IRD lends micro credit from 100 Ė 250 US Dollar per each debtor women monthly use their credit in poultry, farming, cottage industry, goat rearing, boat, in buying rickshaw and rickshaw van, fish farming, agricultural project. IRD is a registered organization of Bangladesh Government Ministry of Social Welfare and NGO affairs bureau. In addition IRD is a network member organization of Federation of NGOís in Bangladesh Ė FNB, Credit and Development Forum-CDF, Coordinating Council for Human Rights in Bangladesh-CCHRB and Voluntary Health Service Society Ė VHSS.

MFI Information-2003:

* 656 MFIs reporting, * Total active members 12,860,615, total RLF: 39,193,735,715, * PKSF 21.95%. memberís savings: 26.87% service charge 17.81%, * In 2002 14.84% of their RFL comes from international donors. So we can see that international donations significant source of capital for expansion.

 


Success of IRD Credit Scheme:

In year 1999 this scheme started its activity with a capital of $ 15000. In September 2006 IRDís capital raised to more than $ 1.2 million. Initially IRD had only one branch and now it has 30 self-dependent branches and another 10 branches have started newly in model of ASA Ė an internationally renowned micro credit organization, IRD credit scheme is considered as a mile stone in making poor people self dependent in general despite poor women in particular. The women who took credit from IRD in the year 1999 do not require to take loan any more. Proper use of loan and after properly returning the weekly installment, the women become self-dependent by getting dividend. By IRDís current model a credit taking family becomes self-dependent within two years. The rate of returns of credit is 98%.

 

IRDsí Area of activity:

 

At present the districts where IRD is working are: Narayanganj, Gazipur, Narsingdi, Dhaka, Kishoregonj, Comilla, Munsigonj and Manikgonj. In addition IRD has already started its activity in Dhaka City. The numbers of thanas in IRDís area of activity is 28. At present the number of villages in IRDís area of activity is 875. The number of loan taking members is 85800 and number of deposit members is 86000 in 2006 Ė 2007. IRDí has a target of increasing its borrower to 100,000.

 

IRDís primary and mass education activity:

 

In addition to make its member financially self-dependent, IRD has also been continuing its primary education programme to get rid of the curse of illiteracy. Each member of IRD has been brought under its compulsory literacy programme. Besides IRD workers are conducting their activities to encourage the female members, their husband and children in primary education programme. IRD believes in the necessity of making sure the rights of getting education of every person along with his / her financial solvency. IRD has been continuing its programme of giving education in human rights and common law along with literacy programme. In the weekly meeting of IRD members, field level officers of IRD are regularly lessoning the common preventing laws of the country in plain language to the members and fundamental right of each person that is human rights are being discussed in every cooperative society.

 

IRDís Public Health Programme

 

Along with making each IRD member financially self-dependent, IRD gives emphasis on the health of its members and their families, because health is the root of all wealth. Initially, to discourage female members in giving birth to more children, to encourage to drink pure drinking water and to discourage to use unsanitary latrine have been included in IRDís programme. As a part of its programme IRD has the plan to appoint a doctor in near future so that IRDís loan taking members and families can get free treatment.

 

IRD Micro Credit Fund:

 

In 1999, in micro credit scheme IRD started its activity with a loan of only $ 15000. In October, 2006 in 30 branches of IRD this fund has become more than 2.2 million US Dollar. IRD has taken a plan to give credit worth 15 million US Dollar in 2006-2007. Besides IRD is taking credit from CORDAID of the Netherlands to run its micro credit activity. IRD has already been enlisted in the micro credit programme of Basic Bank Limited and Bangladesh Bank and has expanded its activity.

          


IRD at a Glance

 

Year : 2006

1.     Year of Starting the Microcredit Program        1999

2.     Total Number of Branch Offices        30

3.     Total Number of Villages        875

4.     Total Number of Thanas/sub-district        28

5.     Total Number of districts        8

6.     Total Number of Groups        2060       

7.     Total Number of Group members        86000

8.     Total Number of Borrowers        85800

9.     Total amount of Savings Balance US$        430126.64

10.   Total amount of actual Loans US$        1374508.23

11.   Total amount of Sanction loans   US$        2214615.94

12.   Rate of Recovery        100%

13.   Rate of Service charge        15%

14.   Total Number of Staff 210

15.   Partner and Financial organization ASA, CORDAID, BASIC BANK LTD. & Bangladesh Bank               

 

 

   

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