Three micro entrepreneurs and two microfinance institutions on Saturday received the 8th Citi Microentrepreneurship Awards-2013 for their work in poverty reduction and socio-economic development in the country.
Rabeya Begum from Kishoreganj as the best micro entrepreneur, Shahida Begum from Jhenaidah as the best women micro entrepreneur, Najma Begum from Tangail as the best micro entrepreneur in agriculture, Rangpur Dinajpur Rural Service from Rangpur as the best microfinance institution and Society for Social Service as most innovative MFI got the awards in five categories for the year.
Citi Foundation, the philanthropic wing of Citigroup, sponsored and announced the awards at a ceremony held in a city hotel on Saturday.
So far 21 micro entrepreneurs and eight MFIs received the CMA awards in the last eight years, Citi officials said.
Bangladesh Bank governor Atiur Rahman, the 8th CMA advisory council chairperson Wahiduddin Mahmud and Citi Asia Pacific chief executive officer Stephen Bird handed over the awards to the winners.
The 8th CMA screening committee chairperson and Credit and Development Forum executive director Abdul Awal and Citi country officer Bangladesh and managing director Rashed Maqsood were present on the occasion.
The winner of the best micro entrepreneur award of the year received Tk 5 lakh while the most innovative MFI received Tk 6 lakh and remaining three winners received Tk 3.5 lakh each.
Wahiduddin Mahmud said, ‘At least 20 million out of 30 million microcredit borrowers are involved in income generation activities. About 60 per cent to 70 per cent of these borrowers are also investing money in many income sources. So the microcredit facility for this group of borrowers should be continued.’
Wahiduddin said it was the government’s duty to facilitate financial support to the people in their crisis or emergency. ‘But, in our country the MFIs are doing the job.’
Bangladesh Bank governor Atiur Rahman said now a major financial source of the MFIs was the banking sector. Total investment of the commercial banks in 128 MFIs stood at Tk 3,266 crore till June 2012, he said.
‘I think, the MFIs should improve their services and products,’ he said adding that the main heroes of the MFIs were the borrowers. So, the MFIs should ensure their modernisation in order to develop services.’
Atiur said that the central bank and the government had taken many initiatives to improve the microcredit sector including introducing a credit information bureau for the MFIs, mobile banking service, financial literacy programme.
Stephen Bird said Citigroup would continue its development supports in Bangladesh.