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

Palli Karma-Sahayak Foundation (PKSF) has taken an initiative to provide a total of Tk 7,245 crore in financing to expand renewable energy use, foster new entrepreneurship in the cottage and microenterprise sectors. Of this amount, Tk 500 crore will be allocated to expansion of rooftop solar power. 

The decisions to implement the financing programs were taken at a meeting of the PKSF Board of Directors held at PKSF Bhaban-1on Sunday. PKSF Chairman Zakir Ahmed Khan chaired the meeting, which was attended by Managing Director Md. Fazlul Kader and other members of the Board, says a press release. 

At the meeting, the Board approved Tk 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 harness the skills and productive capacity of low-income communities to create new entrepreneurs and expand employment opportunities.  

In addition, PKSF has launched a specialized financing program, backed by a Tk 500 crore government allocation, to expand rooftop solar power generation. Under the program, the Board approved a specialized lending policy titled ‘Shouro Shokti’ to provide loans to customers through partner organizations at an interest rate of 6%.