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ADB supports extra funding to aid microenterprises in Bangladesh
(MENAFN) The Asian Development Bank (ADB) has accepted a USD50-million loan to aid reinstate the economic activities of microenterprises in Bangladesh, which have been harshly impacted by the coronavirus pandemic.
According to a report of the Manila-based lender received on Tuesday, December 8, the credit will increase the continuing Microenterprise Development Project, accepted by ADB in 2018 to give a USD50-million credit line to Palli Karma Sahayak Foundation (PKSF), a government development finance and capacity building organization.
Under the continuing scheme, the PKSF, through its 77 partner organizations, has up to now offered credits to 39,580 microenterprises, creating 91,430 jobs in rural areas.
According to a report of the Manila-based lender received on Tuesday, December 8, the credit will increase the continuing Microenterprise Development Project, accepted by ADB in 2018 to give a USD50-million credit line to Palli Karma Sahayak Foundation (PKSF), a government development finance and capacity building organization.
Under the continuing scheme, the PKSF, through its 77 partner organizations, has up to now offered credits to 39,580 microenterprises, creating 91,430 jobs in rural areas.
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