Sheikh Mohammad Salim Ullah, Secretary of Financial Institutions Department (FID), Ministry of Finance commended PKSF’s endeavors for poverty alleviation while visiting various field-level activities in Feni district on 24 December 2023.

He particularly lauded the initiatives aimed at enhancing the quality of life for women and marginalized communities through their integration into the RAISE project. Additionally, he called for the continuation of the ongoing commitment to involve the youth in gainful employment by developing their technical skills through the ustad-shagred (literally meaning master-apprentice) model.

During the visit, Sheikh Salim Ullah interacted with several young micro-entrepreneurs, pandemic-affected micro-entrepreneurs, apprentices and master craftspersons supported through the Recovery and Advancement of Informal Sector Employment (RAISE) project and a few micro-entrepreneurs receiving assistance through the Microenterprise Financing and Credit Enhancement (MFCE) project, both implemented by PKSF.

He visited young workers who have completed apprenticeship in the ‘Mobile Phone Servicing’ and the ‘Graphic Design and Multimedia’ trades under the RAISE project at their new workplace. He also visited a poultry farm under the MFCE Project. Resource Integration Centre (RIC), Sagarika Samaj Unnayan Sangstha, and Young Power in Social Action (YPSA), three Partner Organizations (POs) of PKSF, are implementing the abovementioned projects in Feni.

Salim Ullah was accompanied by Golam Md Baten, Deputy Director (Local Government) of Feni; Dilip Kumar Chakravorty, General Manager of PKSF and Project Coordinator, RAISE; Dr Mesbahuddin Ahmed, Assistant General Manager of PKSF and MFCE Project Coordinator; Md Saiful Islam, Executive Director, Sagarika Samaj Unnayan Sangstha and officials from the RAISE Project Management Unit.

To enhance human capacities in microenterprises, the RAISE project was launched in February 2022. Jointly funded by PKSF and the World Bank, the project is being implemented in urban and peri-urban areas of 333 upazilas of 64 districts of the country through 70 Partner Organizations. Under this five-year project, 1,75,000 youths and micro-entrepreneurs are receiving inclusive financial services as well as capacity development support. The RAISE project is playing an important role in achieving the Perspective Plan 2021-2041 of the Government of Bangladesh and Sustainable Development Goals (SDGs) by creating opportunities for youths to engage in dignified and decent work environments.

PKSF has undertaken the Microenterprise Financing and Credit Enhancement (MFCE) Project funded by ADB to create sustainable employment by providing holistic support to the microenterprises. Building on the impacts of Microenterprise Development Project (MDP), which was completed on June 30, 2023, the MFCE project aims to increase microenterprises’ access to finance via Partner Organizations (POs) in a more sustainable manner. PKSF will also establish a pilot Credit Guarantee Fund (CGF) under this project in order to increase the PO’s access to commercial bank financing for the microenterprise loan program.