Abstract This study offers a thorough analysis of microcredit initiatives run by non-governmental organizations (NGOs) in Bangladesh, a nation known across the world for being a leader in microfinance. This review’s main goal is to analyze the development, composition, and effects of several microcredit programs run by well-known NGOs including Grameen Bank, BRAC, and ASA, emphasizing their role in poverty alleviation, economic empowerment, and social development. This literature-based research explores the development, impact, and challenges of microcredit programs offered by major NGOs in Bangladesh. Through an extensive review of existing literature, including journal articles, NGO reports, and case studies, this research assesses key milestones, loan structures, target demographics, and the economic and social impacts of these microcredit programs on their beneficiaries. Key findings show that by making accessible financial resources that support entrepreneurial endeavors available, microcredit initiatives in Bangladesh have greatly improved the economic circumstances of low-income people, especially women. Additionally, by empowering underserved areas, expanding educational opportunities, and encouraging healthier lifestyle choices, these initiatives have had a significant social impact. Nonetheless, the development of NGO sector of Bangladesh is still shaped by obstacles including high borrowing rates, regulatory restrictions, and the requirement for technological integration. Although microcredit initiatives have been successful in Bangladesh, the article finds that in order to optimize long-term benefits and inclusion, sustainable development would necessitate ongoing innovation, enhanced financial literacy, and better regulatory frameworks. It also has been explored by the researchers that the number of microcredit programs offered are not enough for reducing the poverty of Bangladesh currently which needs to be increased.
Keywords: Micro Credit, Income Generating Programs, NGO