The additional financing will scale up activities under the ongoing Promoting Agricultural Commercialisation and Enterprises or PACE project which is being implemented by the government-founded Palli Karma-Sahayak Foundation or PKSF. The funding will complement efforts of Bangladesh government and PKSF to assist microenterprises and smallholders recover from the severe effects of the pandemic on rural economy. This additional loan will finance activities from January 2021 to December 2022 to help restore microenterprises in the farm and non-farm sectors as well as scale up and strengthen successful value chains under the PACE project. With the additional loan, the total value of the PACE project now amounts to $129.81 million with IFAD financing of $58.07 million. IFAD has a long-standing partnership with PKSF and PACE.

Source: bd News24 December 31, 2020 22:18 UTC