ABSTRACT There is a growing recognition that the ultra poor are generally not integrated into the current antipoverty programmes. In this paper, we estimate the long run impacts of a credit plus grant approach, a combination of microcredit, training and some grants, mostly in the form of consumption stipend, on the livelihoods of the ultra poor. Using longitudinal panel data (2012-2016), we show that the intervention increased labour supply, income, and food consumption. We also document .......