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WorldPosted at: Nov 19 2021 9:27PM


ADB approves USD 150 million for small enterprises in Bangladesh

Dhaka, Nov 19 (UNI) The Asian Development Bank (ADB) has approved a USD 150 million loan to Bangladesh to finance the cottage, micro, and small-sized enterprises (CMSEs) operated by youth, returning migrant workers, and rural entrepreneurs, particularly women, who have been hit hard by the COVID 19 pandemic, it was announced on Friday.
The loan will be distributed among 30,000 such enterprises by the participating banks in Bangladesh. The project will facilitate employment creation and help the vulnerable groups to recover from the impact of COVID 19 pandemic.
The ADB in a press release said that unemployment among the youth remains high in Bangladesh and they have been severely affected by the pandemic as they worked in sectors such as retail trade, accommodation and food services. More than 40,000 migrant workers have returned since the start of the pandemic from overseas. Many of them remain unemployed. Rural incomes have stayed depressed and nonfarm employment opportunities continue to be limited.
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