The New Nation - Internet Edition

BSS, Dhaka

Former caretaker government adviser Dr Wahiuddin Mahmud today said microcredit has been playing a significant contribution to improving the living standard of people. "The microcredit also is helping to expand economic fields, which will expedite country's economics progress," he told a press conference of the launching of City Microentrepreneurship Awards-2009 at Jatiya Press Club here.

Former finance secretary Siddiqur Rahman Chowdhury, Prof Abu Ahmed of Department of Economics of Dhaka University, Director General of NGO Affairs Bureau Mustak Hassan Md Iftekhar and Founder Executive Director of Shakti Foundation for Disadvantaged Women Dr Humaira Islam also addressed the press conference.

Highlighting advantages of microcredit, Dr Wahiuddin said proper distribution of microcredit could change fate of the poor at the grassroots. It is possible to bring vast population under this programme for engaging them in many income generation activities, he added.

City Foundation, the philanthropic arm of Citigroup, for the fifth consecutive time today launched the City Microentrepreneurship Awards (CMA) program in Bangladesh to recognize and honor leadership, entrepreneurial skills and best practices of individuals micro entrepreneurs in Bangladesh.

The speakers said the goal of this award is to promote micro enterprise and increase awareness about their financial service needs.

The awards of this year will be given in four categories and each winner will be awarded Taka 3.50 lakh. The final award presentation ceremony will be held in March 2010.

The City Microentreneurship Awards is being supported by City Foundation and managed by Citibank, N.A. Bangladesh and Shakti Foundation for Disadvantaged Women as the local partner.