P&D Network visits BRAC in Bangladesh

14-May-2010    A delegation of the Pension & Development Network visited BRAC in Bangladesh during the first week of April, 2010.

The delegation consisted of  Mr. Jacques van der Horst (Syntrus Achmea), chairman of the Steering Committee of the P&D Network, and Mrs. Caroline van Dullemen, director of WorldGranny.

The P&D Network met BRAC Founder and Chairman Sir Fazle Hasan Abed in January 2010 in The Hague, Netherlands, and discussed with him the possibilities of developing a micro pension scheme. BRAC invited the P&D Network to visit Bangladesh.

In Bangladesh BRAC works to combat poverty in 70,000 villages and 2,000 slums, and reaches three quarters of the entire population with an integrated package of services for rural and urban communities. At the centre of BRAC’s approach are village organizations, each with 30-40 women members, which are set up to provide social support and microfinance services. While BRAC has more than 7 million women participating in village organizations and accessing financial services for the poor, they provide services to millions more women and their families. A poor woman in the village can rely on BRAC to provide her with essential health care, education for herself and her family, business support, legal assistance and a voice in local issues.

In Bangladesh older people cannot rely on support from government. BRAC is interested in developing a ‘real’ pension product; a lifetime annuity starting from a certain age. BRAC intends to implement this pension product not only for her clients, but also for the part time teachers, health care workers and employees of BRAC.

The P&D Network supported BRAC in the development of a questionnaire for a baseline survey and feasibility study. A concept MOU and concept project plan have been made and sent to BRAC. 



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