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

The Palli Karma-Sahayak Foundation (PKSF) has undertaken a Tk 7,245 crore financing programme to expand the use of renewable energy, create new entrepreneurs in the cottage and microenterprise sectors, and support sanitation and ultra-poor communities.

Of the total, Tk 500 crore will be allocated to expand rooftop solar power generation, according to a press release issued by PKSF yesterday.

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The decisions were taken at a meeting of the PKSF board of directors held at its office bhaban-1 in Agargaon in Dhaka.

Zakir Ahmed Khan, chairman of PKSF, presided over the meeting.

At the meeting, the board approved Tk 5,000 crore in loans under a Bangladesh Bank-financed programme to create 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 programme aims to utilise the skills and productive capacity of low-income people to create new entrepreneurs and employment opportunities.

Md Fazlul Quader, managing director of the state-run financial institution, attended the meeting, along with other board members.

The board also approved a specialised financing programme based on a Tk 500 crore government allocation to expand rooftop solar power generation.

Under the programme, the board approved a specialised lending policy, titled “Souryashakti” to provide loans to customers through PKSF partner organisations at an interest rate of 6 percent.

In addition, loans amounting to around Tk 2,000 crore were approved for PKSF’s partner organisations for financing in various sectors, including cluster-based microenterprises, general services, ultra-poor communities and agriculture.