StanChart, Brac to turn returnee migrants into entrepreneurs

Standard Chartered Bangladesh and Brac have announced launching an initiative to ensure economic self-reliance for migrant workers having to return home amidst the pandemic through skills training and entrepreneurship development. 

The two-year project titled "Covid-19 recovery: Entrepreneurship Training and Gainful Employment for Returnee Migrants Affected by Covid-19 in Bangladesh" will be financed by The Standard Chartered Foundation, says a press release.

According to the Ministry of Expatriates' Welfare and Overseas Employment, over four lakh migrants returned within a span of a year due to the ongoing pandemic.

A recent Brac survey suggests half could not find gainful employment.

Establishing three Reintegration Support Centres, the project would provide emergency arrival assistance, counselling and entrepreneurship training followed by financial assistance to start new businesses.

The project will identify and trace beneficiaries through several sources, including the airport, community members, hotlines and other referrals.

Preference will be given to vulnerable demographics, particularly women and youths aged between 18 and 35 years, from Dhaka, Chattogram and Cumilla districts.

"The return of migrant workers could be seen as a challenge for our economy, but it is also an opportunity," said Standard Chartered Bangladesh CEO Naser Ezaz Bijoy.

Skills and knowledge gained in overseas careers will be channelled towards entrepreneurship and gainful employment opportunities, he said.

It will "also create more opportunities for the broader community, multiplying the recovery momentum at the root-levels", he said.

"…all actors, government and non-government need to work together to support returnee migrants for their economic and social reintegration back into our society," said Brac Executive Director Asif Saleh.

"We have to do more work with fewer resources – there comes partnership.

The main focus is…entrepreneurship skills development and other support services for small-scale businesses that will change and improve the local economy," he said.