Capital formation is crucial for wealth creation, which is unattainable without increased income, efficient expenditure, and improved human skills. Without it, the target population remains trapped in the vicious cycle of poverty. To break this, linking capital with skills development and financial inclusion of microenterprises is essential. Microenterprises play a vital role in building a non-discriminatory, progressive nation. These observations were made by Md Fazlul Kader, Acting Managing Director of PKSF, at a meeting on 3 October 2024 at PKSF Bhaban to review the progress of the RAISE project. He also said that the RAISE project will play an important role in meeting the capital needs of aspiring micro-entrepreneurs by assessing their entrepreneurial ability through psychometric profiling.

PKSF General Manager and RAISE Project Coordinator Dilip Kumar Chakravorty, in his welcome remarks, highlighted that the project not only provides financial support to micro-entrepreneurs but also focuses on skill development. Through the apprenticeship program’s ‘Ustad-Shagred’ model, the project offers hands-on technical training to unemployed youths, fostering entrepreneurship.

PKSF General Manager Mirza Md Nazmul Huq and Deputy General Manager Md Ashraful Haque shared their field experiences of the RAISE project. Additionally, PKSF’s Manager and Deputy Project Coordinator (RAISE) Golam Gilane presented on ‘Overall Progress of the RAISE Project’, while Deputy Project Coordinator (RAISE) SM Khaled Mahfuz presented on ‘Digital Information Management: Observations and Way Forward’.

Relevant officials from PKSF and its Partner Organizations also participated in the program, offering insights and updates on different activities of the RAISE project.

The five-year $250 million Recovery and Advancement of Informal Sector Employment (RAISE) project, launched in February 2022 with joint funding of the World Bank and PKSF, provides inclusive financing to 1.92 lakh youth and micro-entrepreneurs.