Pandemic: 34pc of people take loans for survival

Around 34 per cent of the people in the country have taken loans from friends, relatives and lenders to survive during the Covid-19 pandemic

One third portion of the money was used for purchasing essential commodities while one fourth for paying debt and some portion for treatment, including buying medicines.

Along with taking loans, marginalised people tried to survive using the money from their deposits and getting involved in law-payment jobs.

The Center for Peace and Justice (CPJ) of Brac University came up with their research findings on Monday morning in CIRDAP auditorium in Dhaka. The CPJ conducted a survey in three phases in June, September and December in 2021.

A total of 1500 families from 40 upazilas in 20 districts participated in the survey.

The report says the rate of taking loans has decreased gradually. The rate was 66 per cent in June, which dropped to 49 per cent in September and 34 per cent in December.

CPJ research associate Nahida Akhter said decreasing the rate of taking loans does not mean that their financial conditions have improved. Many are yet to pay their previous loans back.

Quoting a woman’s life in Dhaka, she claimed an elderly woman told her that her two daughters work in the garment factory.

Although their salaries have not increased, the prices of essential commodities have shot up. That is the reason why they have to struggle a lot to make a living in the capital city.

The report says the families took part in the survey are yet to overcome the loss induced by the pandemic as the income decreased significantly.

The income of 53 per cent of families has decreased in December. The rate was 47 per cent in September and 64 per cent in June.

The families received 28 per cent of government relief in June, which shrank to 11 per cent in December.