Banking on a Better Future
Child Marriage Prevention LoanChallenging the status quo on child marriages.
With 51% of young women married before the legal age of 18, Bangladesh ranks in the top 10 countries with the highest levels of child marriage. Depriving children of vital education while exposing them to physical, psychological, and social consequences - IPDC, a leader in the Bangladesh financial industry and advocate for female empowerment, was determined to do something to break this cycle.
From a “Burden” to an Asset
Families with limited financial opportunities often, wrongly, perceive young girls as ‘liabilities’ - leading to child marriages where families seek to offload this financial ‘burden’. Through the Child Marriage Prevention Loan, financially disadvantaged parents are able to access zero-interest microfinance loans to start sustainable businesses, but they must meet three simple criteria; be parents of a 12-18 year old girl, who cannot be married before 18 and must be educated at least until the end of high school. This one-of-its-kind idea has helped families lift themselves out of poverty, and sparked Bangladesh to challenge its historic views on child marriage.
This innovative financial product has elevated the reputation of the IPDC as a responsible brand, and leader for female empowerment. Since its launch in March 2022, the initiative has been rolled out in 160 villages in 32 districts with 5,000 loans made. The Child Marriage Prevention Loan has been covered by 80+ media outlets both locally and globally, generating a PR value of $650K+.