The World Bank’s Implementation Support Mission of RAISE Completed Successfully
The World Bank conducted an ‘Implementation Support Mission’ for the Recovery and Advancement of Informal Sector Employment (RAISE) project from 21 May to 08 June 2023. The mission evaluated the project’s overall progress as satisfactory.
PKSF has been implementing the RAISE project through 70 of its selected partner organizations (POs) in urban and peri-urban areas of the country since February 2022. The project has been enhancing capacities of youths and young micro-entrepreneurs through training and appropriate financing. Moreover, the project provided financing and training/ to micro-entrepreneurs around the country including COVID-19 affected micro-entrepreneurs.
The kick-off meeting of the World Bank Mission with the PKSF was held on 22 May 2023 at PKSF Bhaban chaired by Mr. Dilip Kumar Chakravorty, General Manager (Program) & Project Coordinator, RAISE. On behalf of the World Bank, Mr. S. Amer Ahmed, Human Development Program Leader & RAISE Task Team Leader, Ms. Aneeka Rahman, Senior Social Protection Economist & RAISE Co-Task Team Leader were present at the meeting and officials from the PKSF PMU also attended the meeting. Later, the World Bank delegates met with Mr. Md. Fazlul Kader, Additional Managing Director of PKSF.
The project updates were shared in a detailed presentation in the meeting. By this time, PKSF has disbursed BDT 584.1 crore to POs for providing loans to COVID-19 affected micro-entrepreneurs as well as young micro-entrepreneurs included in the project. The achievement in loan disbursement by PKSF is 91% against the approved loan budget and 77% against the revised loan budget for the FY 2022-23. As part of the capacity building program, so far 30,000 COVID-19 affected micro-entrepreneurs received ‘Risk Management and Business Continuity’ training. The project has reached more than 8,000 youths through its community outreach program. As part of the apprenticeship program under the project, 3,455 youths (of which 39 percent are female) are participating in hands-on technical training (ustad-shagred model) on different trades under the direct supervision of up to 1,768 master craftspersons. The project is also providing ‘Life-skills Development’ training to the apprentices as well as young micro-entrepreneurs under the project. It is worth mentioning that, under this project, 10 regional capacity development programs have been arranged where 280 staff of 70 POs were present. Besides, all master craftspersons received 2 days’ orientation to run the apprenticeship program.
In the meeting World Bank delegates applauded to the courageous effort of PKSF Project Management Unit in developing modules and required documents e.g. Risk Management & Business Continuity (RMBC), Business Management & Entrepreneurship Development (BMED), Life-skills Development, Apprenticeship Guideline, Financial Management Guideline, Environmental and Social Guideline, and Occupational Health & Safety for 26 trades in apprenticeship on its own. All training modules and related materials were finalized upon consultation with PKSF’s relevant units, external experts and the World Bank. The mission highly praised the project’s achievements and overall progress till date.
The mission’s pre-wrap-up meeting was held on 07 June 2023, chaired by Mr. Md. Fazlul Kader, Additional Managing Director of PKSF. Mr. S. Amer Ahmed, Human Development Program Leader & RAISE Task Team Leader, Ms. Aneeka Rahman, Senior Social Protection Economist & RAISE Co-Task Team Leader, RAISE Project Coordinator, Deputy Project Coordinators and other officials from the World Bank and RAISE PMU were present in the meeting. The wrap-up meeting for the mission was held on 08 June 2023, chaired by Mr. Mafiz Uddin Ahmed, Additional Secretary, Financial Institutions Division, Ministry of Finance. Representatives from the FID, RAISE PMU, and the World Bank attended this virtual meeting. Mr. Ahmed commended PKSF for making good progress in the RAISE project.