BB, PKSF sign Tk 5,000cr agreement to boost micro-enterprises

The agreement was signed at BB headquarters by Naushad Mostafa, director of the SME and Special Programmes Department of Bangladesh Bank, and PKSF Managing Director Md Fazlul Kader of their respective sides.

BB Deputy Governors Dr Md Kabir Ahmed and Md Anisur Rahman and Director Md Zobdul Islam, among other officials of the SME and Special Programmes Department, were present at the signing ceremony. 

Senior officials of PKSF, including its Deputy Managing Director and General Manager, also attended the event.

Bangladesh Bank announced the Taka 5,000-crore special incentive fund on May 23 for implementing specialised programmes through PKSF aimed at accelerating employment generation in the country.

The fund will focus on creating new entrepreneurs among rural and marginalised people, empowering women and young entrepreneurs, strengthening the rural economy, expanding existing small businesses and developing enterprises linked to forward and backward value chains.

The programme will be implemented through three major components--providing 
financial services, developing cluster-based value chains and enhancing entrepreneurs' skills.

PKSF will work to develop promising business clusters across different regions of the country with a target of creating two lakh jobs in the micro-enterprise sector.

To meet growing grassroots demand and ensure optimal utilisation of the funds, the incentive fund will be operated as a revolving fund.

This will ensure a continuous flow of financing and help transform the country's micro-enterprise sector into a major driver of inclusive growth.