DHAKA, Feb 16, 2026 (BSS) - The Palli Karma-Sahayak Foundation (PKSF) and the 
World Bank (WB) today signed a US$150.75 million agreement to enhance skills 
development and employment opportunities for the country's youth.

The agreement was signed by PKSF Managing Director (MD) Md Fazlul Kader, and 
WB's Division Director for Bangladesh and Bhutan Jean Pesme. This comes as 
additional funding to the Recovery and Advancement of Informal Sector 
Employment (RAISE) project being implemented by the PKSF.

The RAISE project was launched in 2022 with an initial financing of US$250 
million, with the original completion timeline set for June 2026.

With this new financing, the project period will be extended until December 
2030, and the budget for the extended phase will reach US$280.65 million.
 
Following the World Bank's additional financing, the remaining funds will be 
sourced from PKSF and its Partner Organizations. From 2022 to 2030, the total 
budget of the RAISE project now stands at US$536.50 million, equivalent to 
approximately Taka 61 billion, according to a press release.

RAISE aims to increase income and enhance the skills of unemployed youth, 
micro-entrepreneurs, and workers engaged in the informal sector. 

By December 2030, more than 400,000 people are expected to benefit directly, 
while four to five times more may benefit indirectly.

In this extended phase, special focus will be placed on youth from remote and 
climate-vulnerable areas, including chars, haor regions, and the hill tracts. 
To make women's participation in the informal sector more accessible and 
supportive, an initiative has been taken to establish home-based childcare 
centres.

Under the project, young people are receiving market-oriented technical 
training. Through the traditional ustad-shagred model, participants gain 
hands-on skills aligned with labour market needs. 

The project also facilitates job placement for trained youth. 

Alongside, young micro-entrepreneurs are being provided with affordable 
credit and entrepreneurial capacity enhancement support, enabling them to 
expand their enterprises and create additional employment opportunities.