Bangladesh Bank, PKSF sign Tk 50bn agreement to create 200,000 jobs

Bangladesh Bank and the Palli Karma-Sahayak Foundation (PKSF) have signed a Tk 50 billion agreement to expedite sustainable job creation by boosting financing for targeted microenterprises and stimulating grassroots economic activities.

The signing ceremony took place on Wednesday at the Bangladesh Bank Headquarters in Dhaka, the agency said.

The central bank was represented by deputy governors Md Kabir Ahmed and Md Anis Ur Rahman, alongside Director Nawshad Mustafa. 

PKSF Managing Director Md Fazlul Kader, Deputy Managing Director Akond Mohammad Rafiqul Islam and Senior General Manager AKM Nuruzzaman represented the agency.

The agreement activates the Tk 50 billion special stimulus package announced by the central bank on May 23. 

The fund is designed to support specialised interventions executed through PKSF to speed up nationwide employment generation.

According to PKSF, all preparations have been completed to roll out the programme. 

The strategy focuses on expanding access to finance and providing comprehensive operational support to the microenterprise sector through three primary pillars: financial services, business-cluster-based value chain development, and skills development for entrepreneurs.

To meet the target of creating 200,000 jobs, PKSF will prioritise funding and resources for emerging, high-potential business clusters across the country.

To sustain grassroots demand and maximise long-term impact, the incentive fund will operate as a revolving fund. 

PKSF noted that maintaining a continuous capital flow will help transform Bangladesh’s microenterprise sector into a key driver of inclusive economic growth.