Citi announces 13th edition of microentrepreneurship awards
Citibank NA Bangladesh yesterday announced the 13th edition of the Citi Microentrepre-neurship Awards to recognise the achievements of the most innovative microentrepreneurs in the country.
The advisory council members of the annual awards made the announcement at a programme at The Daily Star Centre in Dhaka.
The 2017 edition is being jointly organised by Citibank NA Bangladesh and Sajida Foundation in association with the Credit and Development Forum (CDF), the Palli Karma Sahayak Foundation (PKSF), the Microcredit Regulatory Authority, Channel i and The Daily Star.
The awards will be given in six categories: Best Microentrepreneur, Best Women Microentre-preneur, Best Youth Microentrepreneur, Best Microentrepreneur in Agriculture, Best Microfinance Institution, and Most Innovative Microfinance Institution.
The award-organisers will accept applications for the awards throughout October, while the judging process will continue through May 2018 when the winners will be announced at a ceremony in Dhaka. The awards aim to honour microentrepreneurs for their efforts in creating sustainable businesses in their communities.
Prof Wahiduddin Mahmud, chairperson of the award advisory council, said the award is a testament that the country's microcredit sector has flourished. He said microcredit has expanded over the years with many micro-borrowers having grown into microentrepreneurs and some of them are even borrowing from commercial banks.
Microenterprises make up 8 to 10 percent of all the micro-borrowers and account for one-third of the loans provided by microfinance institutions, according to Prof Mahmud.
MA Karim, managing director of PKSF, said it has been seen that the microentrepreneurs are creating jobs and directly contributing to the gross domestic product.
M Abdul Aziz, senior deputy president of ASA, a non-governmental organisation, said awareness about the awards has to be raised across the country so that successful entrepreneurs who are doing exemplary work are honoured.
SN Kairy, treasurer of Brac University, said there should be efforts to recognise microentrepreneurs who are doing innovative things.
Sajedul Islam, acting country officer of Citi Bangladesh, said the bank is proud to be involved in the initiative.
Citi Bangladesh organises the awards with support from the Citi Foundation.
This year Citi Foundation is committing $3 million for the awards programme, which will take place in 30 countries, including Bangladesh.
Abdul Awal, executive director of the CDF, and Zahida Fizza Kabir, executive director of Sajida Foundation, also spoke.
Since the launch of the award in 2005 in Bangladesh, 57 microentrepreneurs and 15 microfinance institutions were awarded.
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