The cabinet on Monday has approved the proposal of forming the Small, Micro and Cottage Industries Foundation under Bangladesh Small and Cottage Industries Corporation (Bscic).
The foundation was formed with Tk77 crore from existing money of four completed projects under Bscic.
The decision was made at the regular meeting of the cabinet held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair.
Emerging from the meeting, Cabinet Secretary Mohammad Mosharraf Hossain Bhuiyan told Journalists the government has given Tk50 crore donation to the foundation.
The cabinet also approved the draft of Bangladesh Rural Development and Academy Act in principle.
