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Dhaka Bank and SME Foundation teamed up to help CMSME businesses

  • Published at 05:36 pm September 27th, 2021
SME

SME Foundation will provide Tk2 billion to the participating banks and non-bank financial institutions (NBFIs)

Dhaka Bank Limited has teamed up with the SME Foundation (SMEF) for providing loans to the Cottage, Micro, Small and Medium Enterprises (CMSMEs) under the Government's Second phase of the stimulus package to help small businesses recover from the impact of the pandemic.

Dhaka Bank and SMEF have signed an agreement in this regard on September 16, at the Corporate Head Office of SME Foundation, Agargaon, Dhaka, according to a press release. 

SME Foundation will provide Tk2 billion to the participating banks and non-bank financial institutions (NBFIs). 

Out of the total fund, Dhaka Bank will avail Tk50 million which will be disbursed to the entrepreneurs at a subsidized rate of 4%. 

EmranulHuq, CEO of Dhaka Bank Limited was present to sign the agreement on behalf of the bank. 

Md Mostaque Ahmed, Chief Emerging Market Officer and Md Mahbubur Rahman Palash, head of MSME Business of the bank were present during the agreement-signing ceremony. 

Planning Minister M A Mannan, State Minister for Industries Kamal Ahmed Mojumder, State Minister for ICT Zunaid Ahmed Palak, SME Foundation Chairman Dr Md Masudur Rahman, SME Foundation Managing Director Dr Md Mafizur Rahman, high officials of different banks and NBFIs were also present in the Signing Ceremony.