IFC, EBL team up to increase access for financing SMEs
Friday, 21 March 2008
FE Report
IFC, a member of the World Bank Group, is collaborating with Eastern Bank Ltd to increase the financing opportunities available to small and medium enterprises (SMEs) in Bangladesh.
IFC Advisory Services for South Asia - the SouthAsia Enterprise Development Facility - played an integral role in setting up the SME department of the bank and is now providing advisory services to strengthen their SME operations.
An agreement to this effect was signed Sunday. According to the deal, IFC-SEDF will provide advisory services on operational risk management, human resource skill development, introduction of new SME lending products and strengthening of the information system. Amongst the private banks, EBL is already leading the way in SME financing. This commitment is evidenced by the establishment of their specialised SME department and the credit-scoring techniques they established to help them take calculated risks on SMEs. The bank is looking to further increase their SME loan portfolio over the next year.
IFC, a member of the World Bank Group, is collaborating with Eastern Bank Ltd to increase the financing opportunities available to small and medium enterprises (SMEs) in Bangladesh.
IFC Advisory Services for South Asia - the SouthAsia Enterprise Development Facility - played an integral role in setting up the SME department of the bank and is now providing advisory services to strengthen their SME operations.
An agreement to this effect was signed Sunday. According to the deal, IFC-SEDF will provide advisory services on operational risk management, human resource skill development, introduction of new SME lending products and strengthening of the information system. Amongst the private banks, EBL is already leading the way in SME financing. This commitment is evidenced by the establishment of their specialised SME department and the credit-scoring techniques they established to help them take calculated risks on SMEs. The bank is looking to further increase their SME loan portfolio over the next year.