The Citigroup Foundation, the philanthropic arm of Citigroup, will award microentrepreneurs and microfinance institutions in five categories for their outstanding performances in Bangladesh.
The 2006 awards will be presented in five categories -- the Best Innovative Micro-Business of the Year, Best Woman Micro-Entrepreneur of the Year, Best Micro-Entrepreneur of the Year, Best Micro-Finance Institute of the Year, and Best Programme for the Hardcore Poor.
The winner of the each category will receive $4,000 in prize money.
Dr Fakhruddin Ahmed, chairperson of the Advisory Council for the Citigroup Microentrepreneurship Awards, yesterday announced the schedule at a press conference at Dhaka Sheraton Hotel in the capital.
The Daily Star, the Prothom Alo, Channel i and Dhaka Sheraton Hotel have joined the programme as partner organisations.
The objective of the award, which was launched in 2005, is to recognise and honour the leadership, entrepreneurial skills and best practices of individual microentrepreneurs in Bangladesh, organisers said.
The organisers will publicise the competition and seek information from the micro-finance institutions across the country in June-July and the hosting of the award ceremonies is expected to complete by the end of September.
They said the Advisory Council will judge the candidates and select the winners.
A 14-member Advisory Council has already been formed to evaluate the performance of microcredit operators and microentrepreneurs. Palli Karma Sahayak Foundation (PKSF) Managing Director and former governor of Bangladesh Bank Fakhruddin Ahmed heads the council.
Speaking at the conference, Wahiduddin Mahmud said the award on microentrepreneurship already bears a symbolic value, which recognises the contribution of microcredit from personal life to social life.
Referring to the commercial banks' reluctance to offer loans to the microentrepreneurs without collateral, Dr Mohammed Farashuddin, former Bangladesh Bank governor and a member of the Advisory Council, said the commercial banks should be encouraged to give collateral free loans to the microentrepreneurs.
Among others, Bangladesh Bank Governor Dr Salehuddin Ahmed, former adviser to the caretaker government Rokia A Rahman, Bangladesh Shilpa Bank Chairman Professor Abu Ahmed, Brac Executive Director Abdul Muyeed Chowdhury, Advisory Editor of the Amar Desh Ataus Samad, Editor of The Daily Star Mahfuz Anam, Bangladesh Television Director General Nasimul Gani, Director and Head of News of Channel i Shykh Seraj, and Citigroup Country Officer Mamun Rashid were present at the function.
