New IFC Survey Reveals A Third of Workers in Bangladesh’s Micro, Small and Medium Enterprises Now Jobless in Wake of COVID-19 Impacts
A staggering 37 percent of workers in Bangladesh’s micro, small and medium enterprises lost their jobs, either temporarily or permanently, in the space of one month, with 94 percent of MSMEs experiencing a sharp drop sales due to the impact of COVID-19.
UNCDF and Its Partners Launch E-learning Modules to Help Fill the Digital and Financial Literacy Gap for Small and Micro Businesses in Bangladesh
Over 50 percent of small and micro-businesses in a recent UNCDF and Visa study had poor understanding of how digital and financial services could help their businesses, and financial literacy gaps were even more pronounced for women entrepreneurs.
The International Finance Corporation and Bangladesh Financial Intelligence Unit will work together to develop an electronic know your customer (eKYC) infrastructure to fast-track financial inclusion.
The Recovery and Advancement of Informal Sector Employment project will help about 175,000 poor urban youths and low-income microentrepreneurs enhance employability and productivity.
The World Bank has warned that the weaker-than-expected growth elsewhere in the world due to the pandemic may undermine the recovery in Bangladesh and other countries in South Asia.
The International Fund for Agricultural Development will provide Bangladesh with a loan of $ 18.07 million to rebuild microenterprises as well as to support smallholders affected adversely by the COVID-19 pandemic.
The investment will help to keep small and medium-sized enterprises open and preserve jobs, which is critical to sustaining the Bangladeshi economy.