Rural Microenterprise Transformation Project (RMTP)

In the 1980s, the Government of Bangladesh felt the need to establish a specialized institution for poverty alleviation through employment generation. After years-long discussions with development partners, different ministries and top development experts, the GoB finally decided to found Palli Karma-Sahayak Foundation (PKSF). This apex development organization formally came into being on 13 November 1989, after the President of Bangladesh approved the proposal. Ever since, PKSF has been working relentlessly to fight poverty and improve lives across the country. 

Rural Microenterprise Transformation Project (RMTP) is being implemented by PKSF with the joint financing of International Fund for Agricultural Development (IFAD), and DANIDA. The project is working to extend the financial services of microenterprises as well as to improve the income, food security, and nutrition status of small and marginal farmers, entrepreneurs, and other market actors involved in the value chains of selected high-value agricultural products. The project is implementing value chain development activities to expand the markets for comparative advantage, market demand, and growth of agro-based products. There are provisions for product processing, certification, and marketing by brand image creation in the country and abroad through this project. Also, there are provisions to introduce various new technologies, and methods such as Artificial Intelligence (AI), Internet of Things (IoT), Block Chain, Crowd Funding Platform under this project for poverty alleviation. PKSF, IFAD, DANIDA, POs and various private sectors are jointly financing for this 6 years project. To implement the RMTP, a financing agreement was signed between the Government of Bangladesh and the IFAD on 3 December 2019. Subsequently, a Subsidiary Loan and Grant Agreement (SLGA) was signed between the Finance Division of Ministry of Finance and PKSF on 2 January 2020.