PKSF to provide Tk 7,245cr financing for microenterprises and solar power

Palli Karma-Sahayak Foundation (PKSF) has taken an initiative to provide a total of aka 7,245 crore in financing to promote renewable energy use and foster new entrepreneurship in the cottage and microenterprise sectors. Of the total amount, Taka 500 crore will be allocated for expanding rooftop solar power generation, said a press release. 

The decisions were taken at a meeting of the PKSF Board of Directors held today at PKSF Bhaban-1 with PKSF Chairman Zakir Ahmed Khan in the chair. Managing Director (MD) Md Fazlul Kader and other board members attended the meeting. 

The Board approved Taka 5,000 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-based activities at the grassroots level. 

The initiative aims to utilise the skills and productive capacity of low- income communities to create new entrepreneurs and expand employment opportunities, according to the PKSF. Meanwhile, PKSF has launched a specialised financing programme, backed by a Taka 500 crore government allocation, to expand rooftop solar power generation.

Under the programme, the Board approved a specialised lending policy titled 'Shouro Shokti' to provide loans to customers through partner organisations at an interest rate of six percent. The Board also approved nearly Taka 2,000 crore in loans for PKSF's partner organisations to support cluster-based microenterprises, general services, the ultra-poor, agriculture and other sectors.