Garment, footwear makers of Syedpur, Kaluhati to get collateral-free loans
Wednesday, 27 April 2011
FE Report
The entrepreneurs of footwear industry of Kaluhati of Rajshahi and those of garment industry of Syedpur will get collateral-free loans with single digit rate of interest to boost up their business. In this connection, Small and Medium Enterprises (SME) Foundation and National Credit and Commerce Bank Ltd (NCCBL) Tuesday signed two agreements meant for the entrepreneurs of the two places engaged in export-oriented readymade garments and footwear manufacturing business. SME Foundation Managing Director Syed Rezwanul Kabir and NCCBL Managing Director and CEO Mohammad Nurul Amin signed the agreements on behalf of their organisations at a city hotel. Under the agreement, SME Foundation will give Tk 20 million to NCCBL. Around 69 'jhute' clothes-based readymade garment-makers of Syedpur cluster and 25 shoe-makers of Kaluhati cluster will be able to take loans and expand their business. Industries Minister Dilip Barua was present as the chief guest on the occasion while SME Foundation Chairman Aftab ul Islam and Shahriar Alam MP attended the programme as the special guests. Mr Dilip Barua said, "SME is the basic structure of the economy. The main obstacle to the way of its progress is access to financing. For lack of proper access to financing or loan many potential SMEs are not blooming." He suggested that the bank and financial institutions should come forward to boost up the SME sector and added "The expansion of SME sector will enhance industrial production. Ultimately the banks will be benefited and economic activities will be strengthened." Aftab ul Islam said, "The total amount of the deal is not big enough. But the beginning of the initiative will open up the door for the entrepreneurs who are not getting loans." "These people were able to do seasonal business during Eid-ul-Fitr, Eid-ul-Azha and Puja festivals. But now they will be able to do their business during the whole year, he added." Mohammad Nurul Amin said the NCCBL is working in four clusters in separate places and in future it will expand the programme. The SME Foundation said, the entrepreneurs of Syedpur have exported their products worth US$160,000 to India and Bhutan, which will increase to US$400,000 in 2011 after getting the loan support. This will also help create employment for another 4000 people in Syedpur cluster. The shoe-cluster entrepreneurs of Kaluhati will also be able to boost up their production accordingly.
The entrepreneurs of footwear industry of Kaluhati of Rajshahi and those of garment industry of Syedpur will get collateral-free loans with single digit rate of interest to boost up their business. In this connection, Small and Medium Enterprises (SME) Foundation and National Credit and Commerce Bank Ltd (NCCBL) Tuesday signed two agreements meant for the entrepreneurs of the two places engaged in export-oriented readymade garments and footwear manufacturing business. SME Foundation Managing Director Syed Rezwanul Kabir and NCCBL Managing Director and CEO Mohammad Nurul Amin signed the agreements on behalf of their organisations at a city hotel. Under the agreement, SME Foundation will give Tk 20 million to NCCBL. Around 69 'jhute' clothes-based readymade garment-makers of Syedpur cluster and 25 shoe-makers of Kaluhati cluster will be able to take loans and expand their business. Industries Minister Dilip Barua was present as the chief guest on the occasion while SME Foundation Chairman Aftab ul Islam and Shahriar Alam MP attended the programme as the special guests. Mr Dilip Barua said, "SME is the basic structure of the economy. The main obstacle to the way of its progress is access to financing. For lack of proper access to financing or loan many potential SMEs are not blooming." He suggested that the bank and financial institutions should come forward to boost up the SME sector and added "The expansion of SME sector will enhance industrial production. Ultimately the banks will be benefited and economic activities will be strengthened." Aftab ul Islam said, "The total amount of the deal is not big enough. But the beginning of the initiative will open up the door for the entrepreneurs who are not getting loans." "These people were able to do seasonal business during Eid-ul-Fitr, Eid-ul-Azha and Puja festivals. But now they will be able to do their business during the whole year, he added." Mohammad Nurul Amin said the NCCBL is working in four clusters in separate places and in future it will expand the programme. The SME Foundation said, the entrepreneurs of Syedpur have exported their products worth US$160,000 to India and Bhutan, which will increase to US$400,000 in 2011 after getting the loan support. This will also help create employment for another 4000 people in Syedpur cluster. The shoe-cluster entrepreneurs of Kaluhati will also be able to boost up their production accordingly.