THE Asian Development Bank (ADB) and the Bangladeshi Government on Wednesday signed an agreement for $50 million in the loan to promote micro-enterprise development for inclusive economic growth and poverty reduction.

The assistance will help improve micro-enterprises’ access to finance through the Palli Karma Sahayak Foundation (PKSF), an apex development finance and capacity building organisation, as well as its partner organisations.

Monowar Ahmed, Secretary of Bangladeshi Economic Relations Division (ERD), and Manmohan Parkash, Country Director of the ADB, signed the agreement on behalf of the two sides respectively in Dhaka.

“The greatest constraint in developing micro-enterprises in Bangladesh is the limited access to finance.

“This project will provide financing to ease this constraint.

“The project also introduces an innovative mobile-based micro-enterprise financing application on a pilot basis, and boosts forward linkages to agriculture, thus promoting rural growth, income and job opportunities,’’ said Parkash. (Xinhua/NAN)

– Feb. 6, 2019 @ 12:15 GMT |