UCB signs MoU with Raise Project to support returnee migrant workers

United Commercial Bank (UCB) PLC recently signed a memorandum of understanding (MoU) with the Raise Project, an initiative under the Wage Earners Welfare Board (WEWB), to facilitate access to finance for returnee migrant workers aspiring to start their own businesses.

Adnan Masud, additional managing director of the bank, and ATM Mahbub-Ul Karim, director of the project, signed the MoU at the Probashi Kallyan Bhaban in the capital's Ramna, according to a press release.

Masud stated, "This initiative will empower returnee migrants, enabling them to contribute to sustainable economic growth."

Karim emphasised, "Access to finance is a crucial enabler for returnees to establish and scale their businesses effectively."

This partnership is designed to provide returnee migrants with the financial resources needed to launch or expand businesses, facilitating their seamless reintegration into the economy.

UCB will offer bespoke financial services tailored to support their transition to self-employment.

The Raise Project, operated by WEWB, is dedicated to fostering job creation and promoting entrepreneurial endeavours among returnee migrants.

Through this collaboration with UCB, the project aims to ensure that these individuals have the necessary tools to thrive.

Senior officials from both organisations were also present at the signing ceremony.