_ The government has initiated steps toward large-scale imple-' mentation of microcredit programme across the country in view of the scheme's striking success in poverty eradication. Different ministries and departments of the government have taken up the programme in line with the Prime Minister's statement in parliament and her guidelines, Finance Ministry sources said..

The Palli Karma Sahayak Inundation (PKSF) will distribute Ik 18 crore among (he poorest under a special programme.

The government is also attaching greater priority to the 11 cal ion of small entrepreneurs to make the small credit programme sustainable. The finance and fisheries and livestock ministries have already started working (o this end.

The Finance Ministry will offer loans under the Employment (icneralion Project for the Rural Poor initiative.

Ministry sources said poverty alleviation was the main plank of the government’s financial policy and strategy;

The government is imple-

menting a range of development piojects under the Annua) Development Programme lo add zest lo poverty eradication.

Besides, a set of other programmes has been taken up under the revenue budget, including food for work, gratuitous relief, lest relief and vulnerable group development schemes, lo build social security.

Food lor Education, Special Stipend. Allowance and Free Primary Education programmes of the Education Ministry are coh-uibuiing io poverty reduction, lessening poor families' pressure on educational expenses.

Resides, the government is also continuing the Old Age Allowance, Allowance for the Destitute, Housing Fund for Loans and Giants for (he Homeless. Employment Bank. Housing for (he Elderly and Ashrayan projects The government has also adopted housing and poverty eradication and goat farming projects to reduce poverty.

The government will also distribute credits among small entrepreneurs from Rajshahi Agriculture Development Bank in the current fiscal.

Besides, employment genera-

tion and milk production credits will be disbursed among small entrepreneurs under (he Community Livestock and Dairy Development Project.

Stale-owned- banks, including Sonfili, Janata. Agrani and Pubali. are giving small loans across the country.

Such loans will ;\lso be offered lo the hardcore poor by forming a Social Development Foundation (SDF).

The micro-credit programme, which has achieved remarkable success in fighting poverty, is now very popular in both private and public sector development efforts. An economic study of ihe Finance Ministry said disbursement and recovery of microcredii in both government and private sectors had contributed lo poverty reduction substantially.

"Default culture" is almost absent in the micro-credit programme in which the recovery rate is 90-99 per cent." live study said. ■ adding that women arc receiving maximum loans and they are serious about repayment on linn It said different private organisations have provided more (han 1.16 crore people with micro-credits to (he lune of 1'k 14.398.32

Arore (ill June 2001.