Palli Karma-Sahayak Foundation(PKSF)
Palli Karma-Sahayak Foundation (PKSF) undertook the ‘Recovery and Advancement of Informal Sector Employment (RAISE)’ project in February 2022 jointly financed by the World Bank and PKSF. The RAISE project will facilitate employability and increase productivity of informal sector, and provide financial assistance to 175,000 low-income youths, micro-entrepreneurs and COVID-19 affected micro-entrepreneurs in urban and peri-urban areas across the country. PKSF will implement the project through its 70 Partner Organizations (POs). In addition, the project has another component on recovery and reintegration of COVID-19-affected returnee migrants which will be implemented by the Wage Earners’ Welfare Board (WEWB) under the Ministry of Expatriates’ Welfare & Overseas Employment.
Bangladesh is one the fastest growing economies in the world and forecasts suggest that the size of the economy could double by 2030. While it was primarily an agricultural economy in 1971, the composition has shifted towards industry and services over the past decades. The informal sector has become the engine of growth for sustainable development in our economy and plays an important role in employment creation. Majority (85.1%) of employed labor in the country is engaged in informal sector where females (91.8%) are more involved than the males (82.1%) (Labor Force Survey 2016-17).
