A loan agreement of USD $200 million along with a project agreement for micro-enterprise financing and credit enhancement project was signed on Tuesday between the government and Asian Development Bank (ADB).
Sharifa Khan, Secretary of the Economic Relations Division (ERD), and Edimon Ginting, Country Director, of Bangladesh Resident Mission signed at loan document on behalf of the respective sides.
Dr. Nomita Halder, Managing Director, PKSF, and Edimon Ginting, Country Director, Bangladesh Resident Mission, signed the project agreement separately.
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The project will be executed by the Financial Institutions Division and implemented by Palli Karma-Sahayak Foundation (PKSF) to increase financing for micro-enterprises.
Soft loans will be provided to small entrepreneurs (especially women), which in turn, will improve women’s economic empowerment. The estimated completion date of the project is 31 December 2027.
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ADB’s total loan to Bangladesh till now is more than $ 27.22 billion and the total grant is about $ 0.537 billion.
Source: United News of Bangladesh