DHAKA, Feb. 6 (Xinhua) -- The Asian Development Bank (ADB) and the Bangladeshi government Wednesday signed an agreement for 50 million U.S. dollars in loan to promote micro-enterprise development for inclusive economic growth and poverty reduction.
The assistance will help improve micro-enterprises' access to finance through the Palli Karma Sahayak Foundation (PKSF), an apex development finance and capacity building organization, and its partner organizations.
Monowar Ahmed, secretary of Bangladeshi Economic Relations Division (ERD), and Manmohan Parkash, country director of the ADB, signed the agreement on behalf of the two sides respectively in Dhaka.
"The greatest constraint in developing microenterprises in Bangladesh is the limited access to finance. This project will provide financing to ease this constraint," said Parkash.
"The project also introduces an innovative mobile-based microenterprise financing application on a pilot basis, and boosts forward linkages to agriculture, thus promoting rural growth and income and job opportunities."
