Citi honours 6 micro entrepreneurs, 2 MFIs

Six micro entrepreneurs and two microfinance institutions (MFIs) were awarded 9th Citi Micro entrepreneurship Awards Saturday in recognition of their leadership, entrepreneurial skills and best practices of micro entrepreneurs.

State minister for finance and planning M Abdul Mannan handed over the awards among the winners at a city hotel.

Bangladesh Bank Governor Atiur Rahman gave away the prize money and Rashed Maqsood, country officer of Citibank NA Bangladesh, handed over the certificates.

Speaking as the chief guest, the state minister said the proposed budget is an 'implementable'.

"We are getting positive response from all sectors. A handful of people are criticising the proposed budget," he said adding the budget has offered opportunities for microentrepreneurs.

The state minister said most of the people in the country still live in rural areas. It is not possible for them to set up big enterprises there.

He urged the banks and financial institutions to come forward to helping out microentreprenuers in rural areas.

Atiur Rahman thanked the winners for showing immense courage, confidence and leadership, and leading their way out of poverty.  

"It is very important having self-esteem to start a micro enterprise against all odds.  We have to work to remove the barriers that stand in the way of microenterprises from thriving," he said.

Banks and microcredit organisations together have produced many successful micro entrepreneurs, he said.

Some 170 microcredit organisations have lent Tk 150 billion alone in 2013 to help micro borrowers graduate to micro enterprises. Of the loans, over Tk 90 billion are outstanding.

He said under this initiative, about 2.2 million micro borrowers have graduated into micro entrepreneurs.

Metropolitan Chamber of Commerce and Industry President Rokia Afzal Rahman said, "When I talk about microcredit I feel very proud. Thanks to microcredit organisations, villages and rural economies have become economically vibrant. Both men and women have found jobs."

Richard Tesvich, managing director and regional head of corporate affairs of Citi for Asia Pacific region, said Citi takes great pride in having been able to successfully continue the award.

"The contribution of micro credit in developing as well as developed economies is widely accepted today. Bangladesh being the birthplace of micro-finance has always been at the forefront to bringing innovation in this sector." he said.

He said the winners stepped forward to leave a mark of their hard work, passion and innovation in the Bangladesh economy and communities in which they operate.

Samsad Akter who hailed from Baliadangi in Thakurgaon became the best micro entrepreneur of the year who received Tk 4,50,000 as prize money while runner up of the same category Samirunnahar Begum was awarded Tk 100000. She hailed from Shaymnagar of Satkhira.

Under the Best Woman Microenterprenuer of the Year, Roksana Begum from Valuka of Mymesingh received Tk 3,50,000 while Zahira Begum from Mela Kochukata of Nilphamari became the runner-up in the same category, and won Tk 100000 as prize money.

Md Somed Fakir from Taltoli of Borguna was honoured as the best micro entrepreneur of the year in agriculture while Anju Sarker from Keshobpur in Jessore received the award as the runner-up in the same category. They received Tk 3,50,000 and Tk 1,00,000 respectively.

Manabik Shahajya Sangstha won the award in the Best Microfinance Institution of the Year category and received Tk 3,00,000 as prize money. Sajida Foundation won the award as the Most Innovative Microfinance Institution of the Year and received Tk 4,00,000.

Citi Foundation, the philanthropic arm of Citigroup, has launched the Citi Microentrepreneurship Awards to promote microenterprises and increase awareness of the financial service needs of micro entrepreneurs in the country.

The award is being supported by Citi Foundation and implemented by Citibank NA and Credit Development Forum.