Citi Foundation yesterday launched the Citi Microentrepreneurship Awards programme to recognise and honour leadership, entrepreneurial skills and best practices of individual micro-entre-preneurs in Bangladesh.
Being hosted for the sixth time, the goal of the awards is to promote micro-enterprises and increase awareness of the financial service needs of microentrepreneurs, said Citi Country Officer Mamun Rashid.
He said the initiative recognises success stories in the sector and puts the spotlight on local microentrepreneurs who are helping lift the economic fortunes of their communities and
bringing more capital into their developing economies.
The programme was launched at a press conference organised by Citibank NA Bangladesh at the National Press Club.
The awards will be given in four categories this year — Best Microentrepreneur of the Year in Agriculture, Best Women Micro-entrepreneur of the Year, Best Micro-entrepreneur of the Year and Best Microfinance Institution of the Year.
Each winner will receive Tk 350,000 in prize money at a ceremony in January.
Wahiduddin Mahmud, chairperson of the advisory council formed for the awards, said around seven to eight percent of around 3 crore micro-credit borrowers in the country have graduated from poverty.
“These microcredit borrowers took loans worth Tk 5,000, Tk 10,000 or Tk 20,000. Now they need more to feed their ventures.”
“Through entrepreneurial skills, they have opened their own ventures and created employment not only for themselves, but also for many others,” said the former caretaker government adviser.
The awards are being supported by Citi Foundation, the philanthropic arm of Citigroup, and managed by Citibank NA Bangladesh. Credit Development Form, a network of local micro-finance institutions, is the local partner.
The Daily Star, Daily Prothom Alo and Channel i are the partner organisations.
Nominations for the awards will be sought in November and December through newspaper advertisements.
Former finance secretary Siddiqur Rahman Chowdhury, Director General of NGO Affairs Bureau Nurun Nabi Talukder, former Vice Chancellor of Bangladesh Agricultural University Prof Mustafizur Rahman, Executive Vice Chairman of Microcredit Regulatory Authority Khandakar Muzharul Haque and Executive Director of Credit Development Forum Abdul Awal were also present.
