Brac
BRAC gets regulatory nod to issue zero-coupon bonds
Bangladesh Rural Advancement Committee (BRAC) has become the first non-governmental body in the country to receive approval from the Microcredit Regulatory Authority (MRA) to issue zero-coupon bonds worth Tk 1,350 crore.
Zero-coupon bonds, also known as discount bonds, don't generate periodic coupons or interest for investors like typical bonds. Investors get a lump sum on maturity.
Issuance of zero-coupon bonds by a non-governmental organisation is the first in the microcredit history of Bangladesh, according to a release.
Executive vice chairman of MRA, Md Fashiullah handed over the approval letter to chief financial officer of BRAC Tushar Bhowmik on August 5.
Read: Brac to work on protecting employees from exploitation, abuse
MRA executive director Laxman Chandra Debnath, directors Muhammad Mazedul Haque and Md Nure Alom Mahadi, and BRAC associate director Ashit Baran Das were also present.
Earlier on February 3, Bangladesh Securities and Exchange Commission (BSEC) also approved the issuance of this zero-coupon bonds valued at Tk 1,350 crore.
The bond is unsecured, non-convertible, and fully redeemable with its tenure from one-and-a-half to five years. Institutional investors, corporates and high net worth individuals will be eligible to purchase this bond in multiples of Tk 10 million.
RSA Advisory Limited is acting as the lead arranger of this issue and MTB Capital Limited is the trustee to the issue.
“Client’s savings and bank borrowings was the main source of funds for BRAC Microfinance. Now Bond issuance also comes as an alternative source of funding for the microcredit institutions,” BRAC CFO Tushar Bhowmik said.
The CFO expected that the bonds would open up avenues for non-lender institutions to invest in BRAC's microfinance programme.
Read: Brac to launch antigen testing Saturday
He said that it is a great recognition for the microfinance sector and expressed gratitude to all regulatory bodies for the cooperation along the way.
BRAC expects that the bonds will help improve the livelihoods of people who need access to affordable financial solutions, especially in marginalised communities, in a more efficient way, the release said.
Nine banks to collaborate with BRAC in Covid awareness and support
Nine private banks have joined the non-government organization BRAC to strengthen its public awareness and emergency support campaign amid the new waves of Covid-19 pandemic hard hitting the country.
Under a recent instruction issued by the Bangladesh Bank to launch special corporate social responsibility (CSR) activity for the pandemic affected people, these banks are collaborating with BRAC’s ‘Dakcche Abar Desh’ and ‘Community Fort for Resisting Covid-19’ (CFRC) projects, according to a press release.
Read: Brac to work on protecting employees from exploitation, abuse
Amid a spike in COVID-19 cases, Bangladesh Bank last month asked all the scheduled banks to operate "special CSR activity" to provide assistance to the people affected by the pandemic.
These banks are BRAC Bank, Eastern Bank Limited, Mutual Trust Bank, Standard Bank, Dhaka Bank, Bank Asia, Mercantile Bank,United Commercial Bank and Dutch Bangla Bank.
In total, they have committed Tk 159,193,728 to deliver cash support to 72,160 families (under Dakcche Abar Desh) using a fund of Tk 135,740,500.
Read: Brac to launch antigen testing Saturday
The rest of the amount will be used to provide masks and other Covid-preventive services to 18 lakh people and reach healthcare services to 10,000 patients with Covid symptoms (under CFRC).
The campaign will particularly focus on 20 districts with the highest rate of Covid spread, mostly in Rajshahi and Khulna divisions.
Out of the nine banks, agreement is under process with Bank Asia and Dhaka Bank.
BRAC Executive Director Asif Saleh said that this collective contribution will go towards two of its key COVID-19 projects, Community Fort for Resisting COVID-19 and Dakcche Abar Desh.
These two projects aimed to build community resilience through masks distribution and medical support, and provide emergency cash support to the most vulnerable households for whom the lockdown continues to prove particularly harsh.
“I hope this will encourage more private actors to come forward to collaborate in this difficult time, so we can work together to combat this pandemic and help the most vulnerable households.”
“Community fort for resisting Covid-19” (CFRC) is a joint initiative by BRAC and partners to build community resilience and strengthen the local healthcare system in 35 high-risk districts.
BRAC is mobilising 41 NGOs under the CSO Alliance, with the support from the Directorate General of Health Services (DGHS) and different UN agencies to implement the initiative.
CFRC puts the highest importance on mask use. Other major interventions include campaigns on hand wash and hygiene, coughing etiquette and social distancing. It also runs campaigns on vaccine registration and countering misinformation and rumours.
Dakcche Abar Desh is another initiative from BRAC, calling all to stand by the people who lost their earnings amid the community transmission of the delta variant of coronavirus and eventual lockdown.
Under this initiative, BRAC is primarily providing emergency food assistance to 50 thousand selected families in 19 high-risk districts with a matched fund comprising one-day salary contributions from its staff and its own fund.
One-third of female employed youths jobless as impact of Covid-19: BRAC
More women lost jobs, had a harder time finding another job, and had a much slower income recovery amid Covid-19 in Bangladesh.
A third of the young women employed before the pandemic in the country were out of jobs in January 2021.
Read: Create more overseas jobs for female workers: Speakers
The rate is almost three times higher in women (29%) than that of young men (11%).
The female youths who again found a job later, income recovery has dropped only 10% for male youths while it is 21% for female youths in January 2021.
The data mentioned above was presented by Dr Imran Matin, executive director of BRAC Institute of Governance and Development (BIGD), in a webinar organised on Sunday.
Respondents in the study pointed out that private tutoring, handicrafts, factory jobs, tailoring and light engineering are among the areas in which more young women used to find employment conventionally, but again these are among the hardest hit economic areas in the pandemic.
Read: Ensure more jobs for women to achieve desired prosperity
The respondents also think that recovery of these particular areas will be tough and take time even when the pandemic is over, making it difficult for female youths to come back to paid employment.
The BRAC Institute of Governance and Development (BIGD) and BRAC’s skills development programme (SDP) hosted the webinar titled ‘Building a resilient ecosystem for women in the skills sector: challenges and prospects’ to celebrate World Youth Skills Day (July 15).
Highlighting the survey findings, Dr Matin said so many working women remaining out of paid work for such a long period may cause many to permanently leave the job market, which may further reduce the already low rate of women’s labour market participation.
Covid shock may threaten to undo much of the progress made around women’s empowerment unless corrective measures are taken, he said.
Speaking at the webinar, speakers emphasised on greater awareness on the importance of technical and vocational education, and training and development of other skills relevant to both local and global economies.
BIGD in collaboration with SDP has conducted a number of studies identifying the sustained beneficial impact of skills training on women’s economic independence.
Speaking on the possible interventions, a panel of development professionals shared their insights, highlighted the importance of adopting proper implementation strategies, and stressed that the evidence-based findings from different relevant studies need to be taken into view in building a resilient ecosystem for women in the area of skills development.
Joydeep Sinha Roy, head of operations of BRAC SDP, presented findings from SDP’s implementation experiences over the years at the event.
The presentation pointed out that culture and traditional gender roles, gender stereotyping, lack of career guidance, safety concerns particularly fear of gender-based violence and sexual harassment, family responsibilities, and availability of quality apprenticeship occupations are the major barriers for adolescent girls’ and young women’s access to skills learning.
To bring change in the sector, Joydeep presented SDP’s incremental approaches - enterprise development training, entrepreneurship training, employability training, classroom training and apprenticeship training.
The presentation recommended more awareness about skills training both at the individual and household level, access to the labour market through skills training, raising awareness to change perception towards women, enabling a women-friendly environment in the labour market, and access to jobs and retention to improve the scenario.
Following the presentation, Tasmiah Tabassum Rahman, current in-charge of BRAC Skills Development Programme moderated a discussion also attended by BRAC’s Gender, Justice and Diversity Programme director Nobonita Chowdhury, International Labour Organization’s programme officer (M&E) for Skills 21 Project Tahmid Arif, and Natore-based Neda Society’s executive director Jahanara Beauty.
BRAC’s Gender, Justice and Diversity Programme director Nobonita Chowdhury emphasised bringing change in designing proper interventions.
“Instead of designing interventions separately, we need to focus on making integrated interventions in line with mainstreaming women empowerment in different sectors.”
ILO programme officer (M&E) for Skills 21 Project Tahmid Arif said, “Changing mindset is crucial not only for skills training of female youths, but also for their employment. Conducting training is not enough. We also need to make sure those who receive training also get an employment opportunity and the opportunity has to be sustainable.”
Highlighting the harsh impact of Covid-19 on the female workforce, Neda Society ED Jahanara Beauty said, “During the pandemic many employers opted to keep male ones instead of female youths in informal sectors.
As many women had to leave their job, it impacted not only their income or employment but also their surrounding situations.
There was sharp decline in their savings, while violence against women increased and incidents of child marriage rose drastically.”
Shameran Abed new ED of BRAC International
Shameran Abed has been appointed the new Executive Director of BRAC International (BI), one of the leading development organisations in the world, with effect from August 1, 2021.
Shameran succeeds BI’s current Executive Director, Dr Muhammad Musa, who will step down on July 31.
As Executive Director, Shameran will oversee and guide BI’s strategies, programmes and organisational development for scaled impact and sustainable growth, contributing to BRAC’s Global Strategy to reach 250 million disadvantaged women (and their dependents), youths, and people living in poverty by 2030. He will also continue to lead BI’s microfinance operations and oversee the Ultra-Poor Graduation Initiative (UPGI).
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“The Board of BRAC International is confident that Shameran is the right person to steer BI at this time, driving innovation and positive transformation while ensuring continuity. We believe Shameran’s extensive experience at BRAC and his strong strategic and collaborative skills will help us to further align our goals and objectives to achieve the vision of our late founder, Sir Fazle Hasan Abed, to make BRAC a global force for poverty eradication and empowerment of the poor,” said Irene Khan, Chair of the Supervisory Board of Stichting BRAC International.
Shameran joined BRAC Bangladesh in 2009 and BRAC International in 2012, and has been instrumental in bringing BRAC’s flagship programmes of microfinance and ultra-poor graduation to global scale.
Also read: BRAC to strengthen advocacy on protecting employees from sexual exploitation
Under his leadership, BI’s microfinance portfolio has seen impressive growth and a renewed focus on client impact.
Since 2016, Shameran has also led BRAC’s ultra-poor graduation work and played an instrumental role in setting up the UPGI to spearhead global advocacy and provide technical assistance to governments and other organisations.
Shameran also comes with significant board experience on several non-profit and corporate entities, including the boards of the Global Alliance for Banking on Values (GABV), BRAC Bank and bKash.
Also read: Brac to work on protecting employees from exploitation, abuse
“As we confront unprecedented challenges due to the pandemic, we’re reminded once again of the urgent need to build resilience and create sustainable pathways out of poverty for the world’s most marginalised,” commented Shameran.
“BRAC holds a truly unique position, as an organisation from and for the Global South, to continue to demonstrate the same commitment and tenacity in designing and delivering practical, scalable, community-led solutions as we have done for almost 50 years. I’m honored and excited to have the opportunity to lead BRAC International at this critical juncture, working alongside thousands of fearless co-workers and with millions of programme participants, whose courage and enterprise inspire us every day to accelerate and further amplify our impact.”
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Shameran holds a Bachelor’s Degree in Economics from Hamilton College in the United States and is a qualified Barrister in the UK.
Australia to provide AUD 85mn to Brac under SPA
Australia will provide AUD 85 million to Brac under the third phase of the Strategic Partnership Arrangement (SPA) for 2021-2025.
In a signing ceremony held on Monday, Australian High Commissioner to Bangladesh Jeremy Bruer has reaffirmed Australia’s commitment to its SPA with Brac. Brac was represented by its Executive Director Asif Saleh.
Read:UN wants Asia, Pacific to register deaths to detect emerging health crises
“Australia and Bracc have built a strong relationship for over a decade under the SPA. We share a joint commitment to innovation, inclusive growth, the most marginalised people and gender equality”, the High Commissioner said.
The envoy said he is very pleased to announce the continuation of their partnership as part of Australia’s support to Bangladesh to help address the impact of COVID-19 and support inclusive economic recovery.
Brac’s Executive Director, Asif Saleh, said they are extremely pleased to embark on the third phase of the SPA with Australia.
Read:Bangladesh to host V20 Climate Vulnerables Finance Summit on July 8
Over the past decade, he said, their partnership has tackled some of the most pressing challenges posed by poverty, refugee crises and gender inequality.
"Considering the socio-economic damages caused by COVID-19, this renewed partnership between trusted friends could not have come at a more crucial time”.
Brac to launch antigen testing Saturday
Brac will start antigen-based Covid-19 rapid testing for suspected patients from Saturday (April 24, 2021) to provide results in a shorter time amid a new surge in Covid-19 cases across the country.
The service, set to be run under the supervision of the Directorate General of Health Services (DGHS), will be available at 16 testing booths – 15 in Dhaka and one in Chattagram – set up by Brac.
The testing facility will gradually be expanded to Brac's 32 testing booths in Dhaka and four in Chattogram.
Read NGOs urged to design plan of action taking Covid-19 into consideration
Brac is adding rapid antigen testing to its existing facility of collecting samples for Covid-19 reverse transcription-polymerase chain reaction (RT-PCR) tests.
The booths are open from 9am to 12noon from Saturday to Thursday. Each of the booths can collect and analyse 150 samples a day.
For the detection of Covid-19, the RT-PCR test is being widely used in Bangladesh now, which takes at least 24 hours or more to get the results. But, an antigen test will deliver the result within 30 minutes, which will add pace to the government's Covid-19 testing, Brac said.
Read Brac engaging with communities to build Covid-19 resilience
To support the DGHS, the organisation is operating 41 walk-in sample collection booths across the country.
Morsheda Chowdhury, director of Brac Health, Nutrition and Population Program, said: "To tackle the second wave of Covid-19, there is no alternative to maintain health advisories, along with testing suspects and referring them for isolation."
Read Country's largest Covid-19 dedicated hospital opened in Dhaka
Who and how to get the service
Anyone who has been referred by a registered physician, experiencing Covid-19 symptoms, or has been in contact with a confirmed Covid-19 patient, is eligible to undergo the test through Brac operated booths.
Based on symptoms and case history, the organisation's staff will decide whether a person needs an antigen test or RT-PCR test. However, if someone tests negative in an antigen test despite having symptoms, their samples will be tested again through RT-PCR test.
People will have to apply online to get the service at the Brac booths.
Read Bangladesh allows antigen-based Covid-19 tests
NGOs urged to design plan of action taking Covid-19 into consideration
Speakers at a programme called upon partner NGOs of BRAC to chalk out a plan of action for achieving the Sustainable Development Goals (SDGs) and improving the condition of disadvantaged people taking the Covid-19 situation into consideration.
They made the call while addressing a partner orientation workshop held virtually on Monday.
Also read:Webinar emphasises effective govt-NGO collaboration
BRAC organized the event to increase the capacities of its partner NGOs as well as highlight the future plan of action and recommendation.
Hasina Akhter Huq, Area Director of Humanitarian Crisis Management Programme (HCMP) of BRAC; Mohammad Ziauddin, head of admin, logistics and procurement of HCMP and others spoke at the event.
Md. Abdul Matin Shardar, head of Host Community Programme of HCMP, moderated the function.
Hasina Akhter Huq, in her address, said that their future plan of action should be designed giving priority to the issue of achieving the SDGs and improvement of conditions for disadvantaged people.
"Besides, we have to give importance to real and welfare-oriented activities so that the local community can judge those activities as their own. It will bring more dynamism to the activities in the future," she observed.
Also read:BRAC to increase capacities of partner NGOs
Over 50 representatives from six partner NGOs of BRAC attended the event.
The six NGOs are: Society for Health Extension and Development(SHED), Programme for Helpless and Lagged Societies (PHALS), Alliance for Cooperation Aids Bangladesh (AKLAB), Jago Nari Unnayan Sangstha (JNUS), NONGOR and Help-Cox’s Bazar.
The speakers stressed on carrying out advocacy activities and other campaigns through online platforms due to the prevailing Covid-19 situation.
Other issues such as maintaining the safeguarding matter for protection of employees, maintaining Donor and BRAC values, and more transparency and accountability regarding the implementation of projects came up for elaborate discussion at the event.
Brac engaging with communities to build Covid-19 resilience
BRAC provided Covid-19 prevention information to 37.56 million households and conducted 13,985 safe deliveries at BRAC maternity centres in the last one year.
Over 12 lakh households in seven districts received covid-19 prevention messages between March 2020 and February 2021, according to a statement on Tuesday.
So far, BRAC has trained and deployed 659 Community Support Team (CST) members under Dhaka North City Corporation (DNCC) and 773 CST members under Dhaka South City Corporation (DSCC). In addition, BRAC community health workers supported government teams to track cases and refer cases to national facilities.
BRAC community support team in the field helping communities build covid-19 resilience.
Due to upsurge the covid-19 transmission, BRAC has stepped up its community-driven response to deliver essential healthcare services to those most vulnerable in an undisrupted manner.
Also read: BRAC to increase capacities of partner NGOs
“BRAC will create community resilience to prevent transmission, improve home management and facilitate testing, taking other stakeholders alongside in the hotspots,” said Morseda Chowdhury, associate director, BRAC’s Health, Nutrition and Population Programme (HNPP).
Referring to the economic hardship novel coronavirus has brought upon particularly the low and lower-middle income people, she said that hardware support in terms of cash or kind nudges behavioural improvements.
Currently, community support teams formed under the HNPP are operating in six districts putting the communities at the front and centre of the mitigation strategy. Funded by UK Foreign Commonwealth & Development Office (FCDO), the project titled “COVID-19 response through community mobilisation and strengthening of community clinics” is operating in 51 upazilas in Bagerhat, Bhola, Sherpur, Narayanganj, Kishoreganj and Bogra districts.
Also read: Canadian High Commission team visits BRAC development programmes
Under a separate project, BRAC community support teams are offering health messages for behavioural change of its programme participants in two upazilas in Gazipur. Implemented with its own funding since September 2020, the initiative titled “Community-based Covid-19 response project” offers services in Kaliganj and Kapasiaupazilas of Gazipur.
In the project being implemented in the first six districts, community support teams, each with two community health workers, are visiting door-to-door to interact with the households. Community healthcare workers of the government are also involved in the process.
The teams offer healthcare service messages, including maternal and child healthcare service packages. The teams try to find out if any families have members with covid-19 symptoms and refer them to upazila health complex, if found any.
BRAC has also taken initiative to form COVID-19 prevention committees having both influential figures and common people from the localities as members, all of whom actively engage in sensitising people on coronavirus prevention through awareness messages.
To ensure treatment of suspected or covid-19 patients, BRAC is also offering training and logistic support to the local family planning centres and community clinics.
So far, 27,000 covid-19 suspects have been identified in these 51 upazilas. These committees along with BRAC’s community support teams are relentlessly spreading awareness messages on health and hygiene, including those to prevent coronavirus to 12 lakh households in this area. They also distributed 12 lakh masks and installed 50,000 hand washing stations in these upazilas.
On the other hand, the project being implemented in two upazilas of Gazipur aims to raise awareness of the community to minimise covid-19 transmission in the Kaliganj and Kapasiaupazilas and refer patients with symptoms to the nearest healthcare centres.
The teams are monitoring public behaviour in four particular places of public gathering, namely, markets, bus stands, mosques and salons in these two upazilas. They observe if the individuals maintain particular preventive and cautionary measures and whether necessary preventive measures are in place. In the markets, for example, they observe if there are separate paths for entry and exit, whether there are adequate hand washing facilities and if buyers and sellers are wearing masks.
At the bus stands the teams monitor if passengers, staff and others maintain social distancing and wear masks and check for sufficient hand washing facility and other necessary hygiene practices.
They also check whether or not disinfectants are sprayed in the transports regularly. In the mosques, BRAC teams monitor proper wearing of masks, carrying their own prayer mats and maintaining social distancing by the people congregating for prayers.
At the salons, proper wearing of masks by both the clients and service providers, keeping standard three feat distance in the seating arrangement and display of covid-19 awareness slogans at the entrances are checked by the teams.
In these two upazilas, 160 community corona protection committees comprising 1,159 members, including local leaders and influential and general people are actively engaged in spreading covid-19 awareness messages.
The teams visit households to check covid-19 suspects in households and circulate information on mitigation strategies to the families. They also refer covid-19 suspects to healthcare centres, while arrange for telecounseling services by expert medical professionals.
As of March 2021, a total of 3,812 people were identified as covid-19 suspects, 1,756 of whom were tested covid-19 positive later in Gazipur. All of them received telemedicine and other services.
As part of the campaign, 78,000 masks were distributed which covered 60% of the households in the two upazilas.
BRAC takes special initiative to support Rohingya fire victims
BRAC has taken up an initiative for rehabilitation of Rohingya refugees, who have been affected in a fire incident at Rohingya camps in Ukhiya upazila of Cox’s Bazar district.
Aided by the government, BRAC in coordination with development organisations started food distribution, supply of pure drinking water, construction of shelter and other emergency works at No. 8 and 9 Rohingya camps at Balukhali in Ukhiya.
Also read:Rohingya camp fire: Death toll climbs to 11
On behalf of BRAC, 34,000 liters of water was distributed, 49 deep tube-well and 239 shallow tube-well repaired and 319 latrines repaired for the affected people till March 28, said a press release.
Shahana Hayat, head of operations of Humanitarian Crisis Management Programme HCMP of BRAC, and concerned officials visited the affected camps today (Monday).
Also read:UN releases US$14mn for Rohingyas left homeless by camp fire
Hasina Akhter Huq, Area Director of Humanitarian Crisis Management Programme (HCMP) of BRAC, and other high officials of HCMP, visited the fire affected No. 9 camp on Saturday.
Roberts Sila Muthini, acting programme head of HCMP of BRAC; and others also visited the camps on March 24.
During her visit, Hasina Akhter Huq termed the fire incident at Rohingya camp as a big disaster. Aided by the government, BRAC is carrying out its rehabilitation activities at Camp No. 8 and 9 in coordination with other development organizations, she added.
We are carrying out emergency works, including distribution of food and supply of pure drinking water. Besides, we are giving priority to the issue of protection of women and children, she said.
Also read:Maldives sends message of sympathy over Rohingya camp fire
United Nations High Commission for Refugees (UNHCR) sources said, about 126,381 people used to live at three Rohingya camps. Many of them fell to trouble following the fire, which took place at camp No 8W, 8E, 9, and 10 at Balukhali on March 22.
Webinar emphasises effective govt-NGO collaboration
Speakers at a webinar on Sunday underscored the needs for effective collaboration between the government and non-governmental organisations (NGOs) for the sake of sustainable development.