Bangladesh Bank Training Academy Journal

Abstract

This study investigates the impact of the BRAC CFPR/TUP program, which is a credit-plus social protection program to reduce multidimensional poverty among ultra-poor women in rural Bangladesh. The qualitative study includes twenty-five in-depth interviews of women in Jamalpur district analyzed thematically to investigate program outcomes, vulnerabilities, coping strategies, and lived experience. Findings indicate that due to low repayment capacity, the structural constraints like asset deprivation, social exclusion, food insecurity, and high exposure to shocks constrain the effectiveness of traditional microfinance for ultra-poor households. On the other hand, The Challenging the Frontiers of Poverty Reduction (CFPR) and Targeting the Ultra poor (TUP) program has high positive impacts, the so-called graduation approach that empowers women, builds their resilience and social reintegration, and improves their livelihood security, though challenges persist with reaching the most marginalized and economically inactive groups who need long-term support. The study finds that integrated, capability-focused interventions do better than stand-alone financial services and that scaling up such programs requires stronger institutional coordination and policy support.