Dhaka: Finance Minister Amir Khosru Mahmud Chowdhury today emphasized the need for a more participatory and inclusive economy in Bangladesh, advocating for every citizen’s involvement in economic activities to ensure equitable distribution of development benefits. He highlighted the necessity of cooperation from all stakeholders to bring the ‘Bangladesh story’ to the global stage.
According to Bangladesh Sangbad Sangstha, the Finance Minister made these remarks while addressing the inauguration of the RAISE-2 project at the PKSF auditorium in the capital. He underscored that political democracy alone is insufficient and called for the democratization of the economy, asserting that every citizen has the right to partake in and benefit from the country’s economic processes.
The event featured speeches from notable figures such as Financial Institutions Division Secretary Nazma Mobarek and World Bank Acting Division Director for Bangladesh and Bhutan Dr. Gayle Martin, with PKSF Chairman Zakir Ahmed Khan presiding over the event. PKSF Managing Director Md. Fazlul Kader delivered the welcome address, and beneficiaries and co-partners of the RAISE project shared their experiences.
The Finance Minister praised PKSF’s contributions to grassroots development, employment generation, and poverty alleviation. He noted the government’s implementation of strict benchmarks for project approval to ensure transparency, accountability, and effective use of public funds, emphasizing the importance of evaluating projects based on return on investment, employment generation, and environmental considerations.
In his speech, Amir Khosru also highlighted the government’s shift in focus towards social programs and public welfare rather than mega projects. He mentioned the introduction of several people-oriented initiatives, such as Family Cards, Farmers Cards, and expanded healthcare programs, aimed at enhancing purchasing power, social protection, and local economies.
The minister elaborated on the Family Card initiative, designed to empower women by providing direct financial support, thereby increasing their influence within families and society and stimulating local economies through increased consumption and savings. He also emphasized the government’s commitment to advancing towards universal healthcare, with plans to strengthen preventive and primary healthcare services.
Amir Khosru called attention to the importance of utilizing the country’s demographic dividend, advocating for skill development, employment, and entrepreneurship programs. He highlighted the significance of integrating traditional artisans, cottage industries, and cultural workers into mainstream economic activities, proposing government support for artisans in terms of financial aid, design assistance, branding, marketing, and digital platform access.
The Finance Minister also referred to the ‘One Village, One Product’ concept, suggesting that villages specializing in products like ‘Shital Pati’ could receive loans, skill development training, branding support, and online marketing opportunities to boost incomes and export potential.
He stressed the economic significance of culture, theatre, music, and sports, advocating for their recognition as part of the country’s creative industries and contributors to GDP. Despite facing domestic and global pressures, he reaffirmed the government’s commitment to its long-term vision, urging cooperation from all sectors to present Bangladesh’s narrative to the world.
The PKSF launched the second phase of the RAISE skills development project, aiming to provide skills training and financial support to an additional 200,000 youth and small entrepreneurs. Jointly financed by the World Bank and PKSF, the project has already benefited 205,000 young people, enhancing informal sector entrepreneurs’ capacity and creating sustainable employment opportunities nationwide.
Speakers at the event noted that the project is expected to directly benefit a total of 423,100 people by 2030. The second phase will prioritize youth from climate-vulnerable regions and emphasize the inclusion of Dalit communities, ethnic minorities, and youth with disabilities. An initiative to train 1,600 women as ‘home-based childcare’ entrepreneurs is also underway to increase women’s workforce participation.
Representatives of partner organizations highlighted the project’s role in connecting youth with employment opportunities through market-driven technical training, life skills development, and entrepreneurship support, contributing to the growth of small enterprises and sustainable economic development. PKSF believes the RAISE project will significantly contribute to small enterprise development and inclusive economic growth by transforming the country’s large youth population into skilled human resources.