Microenterprise sector backbone of Bangladesh’s economy: Tembon

The microenterprise sector is the backbone of the economy of Bangladesh and The World Bank is ready to extend its support to make it ‘green’ and more resilient, WB Country Director Mercy Miyang Tembon said on Tuesday.

She made the comment while attending the closing session of a virtual knowledge-sharing workshop titled ‘Adoption of Environmentally Sustainable Practices and Environmental Certifications by MEs’.

The World Bank and PKSF (Palli Karma-Sahayak Foundation) jointly organised the workshop from March 28 to April 5, under the World Bank-financed Sustainable Enterprise Project (SEP), a press release of PKSF said.

SEP helps about 40,000 microenterprises adopt environmentally sustainable practices and occupational health and safety measures in the manufacturing and agribusiness sectors.

The project provides loans to microenterprises to adopt innovative, environmentally sustainable technologies and practices.

The project facilitated the use of resource‐efficient technologies and set up one-stop shared service facilities for microenterprises. It also promotes basic safety standards and aims to certify eco‐labelled products.

Tembon also said that the microenterprises of the Sustainable Enterprise Project can take the advantage of certifications, digital financing, and other technologies that are being transferred to them.

“Digitalization can help organize and innovate various kinds of networks to facilitate access to bigger markets, and those looking for a cleaner, greener supply chain,” she added.

PKSF Managing Director Dr Nomita Halder inaugurated the event followed by the opening remarks by Md Fazlul Kader, additional managing director of PKSF, and Eun Joo Allison Yi, senior environment specialist of World Bank.

In her speech, Dr Halder said that environmental concerns had previously been the ‘missing piece’ in the prevalent development interventions until they were incorporated in the Sustainable Enterprise Project (SEP) of PKSF.

“Growth is essential for eradicating poverty and it is time we realized the importance of ensuring environmental conservation and business growth at the same time,” she said.

Researchers, experts, and professionals from different countries around the globe spoke on policies of different countries, big data management, digital financing, innovations, and green financing in different sessions of the workshop. Many ideas and working innovations have also been showcased in the workshop.

More than 150 participants from different parts of the world took part in the workshop, including officials from The World Bank, PKSF, and its partner non-governmental organisations (NGOs).