Explanation of Poverty, Peace and Development

Poverty: Poverty is the crudest form of denial of opportunities and choices to human development. It is a vicious circle, has a long standing history. Still today, it exists as a curse. Poverty prevailed in the past, it exists no’s and it is likely to remain in the future as a course on the human society. Therefore, poverty free world may not be attained through eradications but it must be alleviated to a humane standards and tolerance.

Define Micro Credit

Credit is one of the ancient thinking of human civilization. It has attained place in the centre of poverty and Bangladesh has become the motherland of micro credit program for the poor. About its suitable and fitting definition, it is generally said “Micro credit is a tiny collateral free loans aimed at the poorest of the poor to help them start or expand their self-employment pursuits.[1] For further clarification, Dr. Yunus Says, “Micro-credit is a well tried and well founded method that can bring financial services to the poorest of the poor. Micro credit promotes entrepreneurship, and pits each individual poor person, especially women, in the driving- seat in their own lives. Micro-credit is more about people than about money. It is a question of trusting people. Credit means to trust, to give someone credit.[2]

The Evolution of Micro credit Programs in Bangladesh

Micro credit is one of the ways of poor to acquire assets and to become productive. This kind of program was first attempted in 1976, when Professor Dr. Muhammad Yunus[1]. a Bangladeshi economics and first Nobel laureates, introduced an experimental project to best whether the poor were creditworthy physical collateral.

Micro Credit in Bangladesh

Micro-credit is an important field for improving the economic life of the poor. It is now familiar in many countries because it has attracted the view of the common people after getting recognition by the Nobel Laureate Committee. Nevertheless, most of the people in the world are seriously stricken with the dearth of poverty even in the developed countries in some context. Otherwise it has generally been considered in the last two years as a commendable idea in the developing countries “At the beginning when micro-credit was first introduced here it was given to the men with the subsequent change to women which introduced changes with regard to their economic dependence, limited income opportunity and mobility.” It has been a different dimension since a large number of people across the world remains under the destitute situation of abject