According to Labour Force Survey (LFS) of the Bangladesh Bureau of Statistics (BBS) 2016-2017, the national unemployment rate is 4.2%, whereas the youth unemployment is as high as 10.6%. The CSR funds can be utilized for the country’s development in innovative and sustainable ways. Such an innovative approach has been taken by Chevron, under their Bangladesh Partnership Initiative (BPI), through funding a three-year skills development project called Uttoron -- skills for better life. Uttoron’s initiatives address the skills development issues and facilitates recruitment by bridging the gap between employers and employees. The innovative utilization of Chevron’s CSR fund is exclusive, but it is also meant to inspire and be adapted by other companies and industries for socio-economic welfare and development.

Source: Dhaka Tribune January 08, 2019 15:56 UTC