Question

How has microcredit changed the lives of people, especially women, in Bangladesh?

Answer 1

Answer:

This was the first time women in Bangladesh, who rely on men and are married very young, could get their own money to start the business and secure some income.

Explanation:

Microcredits are small loans to those who do not have some steady flow of money, given so they can start to develop their business and entrepreneurship.

In Bangladesh, society is greatly patriarchal and women do not have many rights. Most of them do not have any source of their own income and can’t own the money. They must rely on husbands and father’s goodwill to get any money they potentially need.

When microcredit began in Bangladesh, this gives the opportunity for many women to finally get a loan and have some of their own money. This was their first opportunity of the kind. They could get the goods and resources needed to start their businesses and provide enough money to secure themselves and their children.