Govt to explore low-interest loans for innovators: Fakhrul

Local Government, Rural Development and Cooperatives Minister and BNP Secretary General Mirza Fakhrul Islam Alamgir said on Friday that the government will discuss with banks the possibility of providing low-interest loans to entrepreneurs engaged in innovative projects.

He made the remarks while inaugurating the "Soleman Solar Irrigation Pump", developed by local innovator Soleman Ali, at Molani area in Thakurgaon sadar upazila.

"Development is not achieved merely by constructing roads, mosques and madrasas. Real development means increasing people's incomes, encouraging innovation and creating successful entrepreneurs," Fakhrul said.

He stressed the need to create employment opportunities and increase the incomes of others alongside improving one's own financial condition.

"There is little benefit in constantly arguing over Argentina and Brazil. People need food on their tables, they need to innovate and build successful businesses. That is real development," he said.

Praising Soleman Ali, the minister said he would hold discussions with banks to facilitate low-interest loans for innovators.

"Soleman Ali has developed an extraordinary irrigation pump through his own efforts. He is a source of pride for us, for the country and for our farmers," he said.

Fakhrul said Soleman had recently met him in Dhaka to brief him on the project. He noted that Soleman, who started his career as a bicycle mechanic, had developed a solar-powered irrigation pump that could help meet electricity demand for farms and other facilities.

"Such innovators are quietly contributing to the country's development," he added.

Thakurgaon Deputy Commissioner Rafiqul Haque, Superintendent of Police Belal Hossain, innovator Soleman Ali, officials from different government offices and local dignitaries were present at the programme.