PKSF to provide Tk7,245cr financing for microenterprises, solar power

The Palli Karma-Sahayak Foundation (PKSF) has approved Tk7,245 crore in financing to promote entrepreneurship in cottage and microenterprise sectors and expand renewable energy use in Bangladesh.

The decisions were taken at a meeting of the PKSF Board of Directors today (27 September) at PKSF Bhaban-1, according to a press release.

Of the total financing, Tk500 crore will be allocated to expand rooftop solar power generation through a specialised financing programme.

The board approved Tk5,000 crore in Bangladesh Bank-financed loans to support the creation of new entrepreneurs in the cottage and microenterprise sectors.

The financing will support technology-driven agriculture and agro-processing, manufacturing, services and various value-chain activities at the grassroots level.

PKSF officials are in the meeting. Photo: Courtesy

According to PKSF, the initiative aims to utilise the skills and productive capacity of low-income communities to create new entrepreneurs and expand employment opportunities.

Under the rooftop solar programme, backed by a Tk500 crore government allocation, the board approved a specialised lending policy titled "Shouro Shokti".

Under the programme, customers will receive loans through PKSF's partner organisations at an interest rate of 6%.

The board also approved nearly Tk2,000 crore in loans for PKSF's partner organisations to support cluster-based microenterprises, general services, the ultra-poor, agriculture and other sectors.