• Saturday, Jan 22, 2022
  • Last Update : 03:32 am

Bangladesh Bank, SME Foundation sign Tk50cr agreement

  • Published at 10:22 pm February 14th, 2019
BB-sme
General Manager of SME Department of Bangladesh Bank Sheikh Md Selim and Managing Director of SME Foundation Md Shafiqul Islam sign the agreement, on behalf of their respective organizations at the central bank head office, on February 12, 2019 Courtesy

Through various banks and financial institutions, the entrepreneurs are financed with collateral free loans of 9% interest under the program

SME Foundation on Tuesday signed a loan agreement with Bangladesh Bank for the expansion of the foundation's loan program to Tk50 crore.

General Manager of SME Department of Bangladesh Bank Sheikh Md Selim and Managing Director of SME Foundation Md Shafiqul Islam signed the agreement on behalf of their respective organizations at the central bank head office.

Attending the ceremony as the chief guest, Bangladesh Bank Governor Fazle Kabir said that the central bank will provide Tk50 crore to the foundation, from which the foundation will provide loan to SME (small and medium-sized enterprises) clusters and women entrepreneurs through different banks. 

He assured that proper distribution and utilization of the loan fund will encourage them to provide more funds in the future.

Since 2009, SME Foundation has been implementing a special loan program called "Credit Wholesaling" to bring SME clusters, new entrepreneurs, rural entrepreneurs and women entrepreneurs to easily avail loans. 

Through various banks and financial institutions, the entrepreneurs are financed with collateral free loans of 9% interest under the program. 

The idea behind this loan program is to increase the capacity of the SME businesses and entrepreneurs, and reduce their financial burden. 

Under this program, 1,700 entrepreneurs were financed by December 2018, out of which nearly 35% were women. Seeing the increasing demand for the program, Bangladesh Bank approved this loan fund for further expansion.

Among others, Deputy Managing Director of Bangladesh Bank SM Moniruzzaman, Executive Director Md Abdur Rahim, Directors of SME Foundation, Brac Bank, and Mutual Trust Bank, and Managing Directors of Bank Asia and Midas Finance Ltd, were also present at the signing ceremony.

50
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail