MICROFINANCE AND EMPOWERMENT: A CASE STUDY ON BENEFICIARIES OF A COMMUNITY DEVELOPMENT PROGRAM

In the current era, for the developing countries, empowerment as a mechanism for poverty alleviation, is becoming a challenge. Poverty alleviation requires a shift from traditional “top-down” approach to a “bottom-up” approach. This can be done by building capacity within the communities. Considering the importance of bottom up approach a microfinance institution started its activities in a small village under the scheme of a community development program for getting sustainable empowerment. In order to explore the change that has occurred because of microfinance, provided under the scheme of a community development program, a qualitative study has been conducted. For the purpose of data collection, two focus groups were conducted over the community development program. The findings revealed that beneficiaries experienced four different phases of empowerment; sensitization, intervention, initiating empowerment, and sustainable empowerment.