Bengal Commercial Bank signed a participation agreement with SME Foundation to facilitate affordable financing for small and medium entrepreneurs (SMEs) across the country. Under this agreement, Bengal Commercial Bank will provide loans to the SME sector at a concessional interest rate of 8%, a press release said.
Tarik Morshed, Managing Director of Bengal Commercial Bank and Anwar Hossain Chowdhury, Managing Director of SME Foundation, signed the agreement on behalf of their respective organizations recently at a hotel in Dhaka.
The signing ceremony was graced by Khandakar Abdul Muktadir, Minister for Industry, Commerce, Textiles and Jute, as the Chief Guest. The event was chaired by Md. Obaidur Rahman, Secretary of the Ministry of Industries and Chairperson of SME Foundation while Nurun Nahar, Deputy Governor of Bangladesh Bank and Nasrin Fatema Awal, President of the Women Entrepreneurs Association of Bangladesh, attended the program as Special Guests.
Mentionable that under the SME Foundation’s “Revolving Fund Credit Wholesaling” program, a total of BDT 300 crore will be disbursed through banks and financial institutions. Under this initiative, applicants can access loans ranging from BDT 1 lac to BDT 25 lac. Specially, women entrepreneurs, marginalized and unserved communities will get the priority to access the loan.
