The Asian Development Bank (ADB) has provided the government of Bangladesh with a $200 million loan to finance micro-enterprise development in the country, Xinhua News Agency reported on Wednesday.
The funds will be used to develop small businesses that are owned by women and established in areas with climate risks.
ADB's assistance will improve financing for micro-enterprises and improve the creditworthiness and liquidity of microfinance institutions (MFIs), which are key lenders to micro-enterprises.
"They are effective tools to create jobs, to alleviate rural poverty and reduce economic disparities between urban and rural areas," said ADB Bangladesh representative Edmond Ginting.
Strengthening micro-enterprises and financing them is critical to the social and economic recovery from the COVID-19 pandemic and to revitalizing Bangladesh's economy, he added.
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Based on materials from TASS