The Japan International Cooperation Agency (JICA) has reaffirmed its commitment to supporting PKSF in its ongoing development projects aimed at reducing poverty and building resilience in Bangladesh. This statement was made during the 4th Joint Coordination Committee (JCC) Meeting of the Project for Developing Inclusive Risk Mitigation Program for Sustainable Poverty Reduction (IRMP), which took place on 13 May 2025 at PKSF Bhaban.

During his opening remarks, Mr. Md. Fazlul Kader, Managing Director of PKSF, highlighted the importance of bringing low-income communities under insurance coverage through innovative approaches. He mentioned that microinsurance is not just a financial product—it is a tool for development. He said, “Our goal is to reduce the risks that affect people’s income. By protecting people from these risks, we can help their net income grow in a sustainable way.” He further emphasized the need for behavioral change, proposing the use of nudging techniques to encourage people to adopt behaviors that reduce different types of risk. For that, he requested JICA to continue its support in capacity building in actuarial science, awareness development, and data capturing by using digital technology.

Mr. Kiyoshi Amada, Special Advisor to the Chief Representative of JICA Dhaka Office, praised PKSF’s extensive experience and expertise at the grassroots level. He said, “PKSF’s experience and deep knowledge are invaluable. JICA is eager to continue working together and move forward with PKSF.” He also pointed out that PKSF’s microinsurance model could serve as a good example for others to follow.

Joining the meeting virtually from Japan, Ms. Komahashi Rie, Director, Gender Equity & Poverty Reduction at JICA Headquarter, thanked PKSF and its Partner Organizations (POs) for their excellent work. She hopes this great work continues, and JICA looks forward to further cooperation under the IRMP initiative. She also expressed her wishes for a strong and lasting relationship between Bangladesh and Japan.

Mr. Yojiro Fujiwara, Team Leader of the IRMP, also contributed his thoughts, mentioning the need to find an innovative approach where PKSF and its POs can play a key role in providing sustainable insurance solutions, rather than just using a partner-agent model.

In his concluding remarks, Mr. Md. Fazlul Kader said that PKSF undertakes projects to strengthen its core programs. Thus, the experience of IRMP will continue to guide our development efforts. He expressed his deep satisfaction in knowing that IRMP is also involved in precision agriculture, which is considered a risk-reduction tool and helps protect against climate and environmental risks. He said that, Japan’s experience in precision agriculture could be key to improving ecological farming practices in Bangladesh.