The first wave of the Covid-19 pandemic and the consequent lockdown shoved millions of families into poverty across the world. And Bangladesh was no exception.
Between April and October last year, around 77 percent of the households in Bangladesh saw a decrease in their average monthly income and around 34 percent had at least one member who lost jobs or earning capacity, according to a new study.
To cope with the situation these families used up their savings and took loans, which led to a 62 percent decrease in the average monthly savings of these households and a 31 percent increase in debt.
The study was conducted by the Center on International Cooperation of New York University, BRAC and UN WOMEN Bangladesh on the changes in demographic, economic and social environments in the secondary towns, peri-urban (upazila) and rural areas of Bangladesh brought on by the rise in reverse migration during the pandemic.
The research findings were unveiled at a virtual international dialogue titled, 'Demographic and Socio-economic Changes induced by the Covid-19 Pandemic: Challenges of New Circumstances' held recently.