The country's one of the most successful projects that created thousands of women entrepreneurs across the country remained suspended for the last four years, as the government could not decide on how to continue financing it.

Official sources said 378 members of the project staff, who became jobless since June 2004, are now facing hardship.

The tenure of project, Women Entrepreneurship Development Programme (WEDP) of the Bangladesh Small and Cottage Industries Corporation (Bscic), ended formally in 2004, but the employees did not get any formal notice regarding the closure. The WEDP was launched in 1981 under the Annual Development Programme (ADP) with financial assistance from USAID.

During the 23-year period (1981-2004), the project created 1,40,078 women entrepreneurs who have established 1,63,800 small and cottage industries and income generating establishments. This project has also created direct employment for 2,74,663 people.

Considering the success and positive impact of the project, first of its kind to develop women entrepreneurship, the Bscic decided to finance it by creating a trust ten months ago.

However, due to the lack of any initiative, the authorities have not yet completed the formalities to set up the trust to revive the project.

"We are finalising the memorandum and articles of this trust and hope to send the final papers to die ministry con-

cerned by mid-June," Bscic Chairman Mahbubur Rahman told The Daily Star.

According to a proposal from the project authorities in 2003, the Monitoring and Evaluation Department of the Planning Commission suggested that the project should be brought under the revenue budget of 2005 instead of placing it under the ADP.

Although this suggestion got endorsement from the ministries of industries and establishment, the finance ministry finally rejected the proposal and suggested on August 2, 2007 formation of a trust for four Bscic projects on selfemployment, women entrepreneurship, poverty alleviation and strengthening rural economy.

Had the trust been formed, the finance ministry would have arranged a Tk23 crore fund for the operational and other costs for these projects. "But, such financing is yet to be arranged," a source in the Bscic lamented.

On the ministry's rejection of the proposal with regard to the placing of the WEDP under revenue budget, the Bscic terminated 378 employees of the project in June 2004.

The WEDP, aiming at improving lives of women by developing their entrepreneurship in different small and cottage industries and micro enterprises, started its its activities from four upazilas in 1981 in the country. Its activities expanded steadily in four phases. Later, the project was run on its own capital in 50 upazilas of 42 districts.

The size of the maximum loan the women under the poroject could receive was Tk

60,000 and no collateral money was required for a loan amount up to Tk 20,000. The project provided loan for 39 trades and the interest rate was 12 per cent flat. Loan recovery rate was 95 per cent, according to the project employees.