Dhaka: Bangladesh Bank and Palli Karma-Sahayak Foundation (PKSF) have entered into a Tk 5,000 crore agreement aimed at enhancing sustainable job creation by broadening financial access for targeted microenterprises and energizing grassroots economic activities.
According to United News of Bangladesh, the agreement was formalized by Nawshad Mostafa, director of Bangladesh Bank’s SME and Special Programmes Department, and PKSF Managing Director Md Fazlul Kader during a ceremony at the Bangladesh Bank headquarters in Dhaka. The initiative is part of a special stimulus package announced by Bangladesh Bank on May 23, designed to support specialized interventions through PKSF to boost employment generation nationwide.
Officials from PKSF have confirmed that preparations are complete to roll out this nationwide programme using the allocated fund. The focus will be on creating jobs in the microenterprise sector by increasing financial accessibility for targeted businesses, alongside providing necessary support.
The programme is structured around three main components: delivering financial services, developing business-cluster-based value chains, and enhancing skills development for entrepreneurs. PKSF’s goal is to create 200,000 jobs within the microenterprise sector by aiding the growth of promising business clusters across various regions of the country.
The initiative is expected to reinforce grassroots businesses by facilitating access to finance, developing value chains, and enhancing entrepreneurial capabilities. To address the increasing demand at the grassroots level and ensure effective utilization of the fund, the incentive financing will function as a revolving fund. This approach will enable the continuous reallocation of funds for financing eligible enterprises, maintaining a steady flow of capital into the microenterprise sector.
Officials anticipate that this initiative will significantly contribute to transforming the country’s microenterprise sector into a pivotal force for inclusive economic growth, while simultaneously creating employment opportunities across the nation.