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Prime Bank joins SME Finance Forum to support MSMEs in Bangladesh

September 25, 2020 00:00:00

Prime Bank Limited has joined the SME Finance Forum to promote and expand financing to MSME businesses in Bangladesh.

Managed by IFC of World Bank Group, SME Finance Forum works to expand access to finance for small and medium businesses.

The Forum operates a global membership network that brings together 190 financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs, said a statement.

Prime Bank is the fifth member from Bangladesh in the global forum.

"When we started in 2012, we were in an exploratory phase for the first few years. Since 2016, we've been implementing our mission to build a global membership to support better SME financing, and since then, we've established a network with over 190 active members, who operate in over 190 countries sharing the common purpose of helping under-served enterprises. We are delighted to welcome Prime Bank to further grow our mission." said Matthew Gamser, CEO of the SME Finance Forum.

Prime Bank is a market-driven institution providing financial services like consumer and wholesale banking, sustainable finance, and MSME banking.

As Bangladesh starts journey to graduate into middle income country, Prime Bank strives to contribute to the government's development journey through entrepreneurship development especially in MSME. Prime Bank is committed to easy access to finance to MSME businesses with innovative and tailor-made banking solutions.

"Our mission is to support MSMEs in Bangladesh with enterprise development services, loan products, trade services, and deposit products. With the help of the Forum, we can further improve our institutional knowledge of SME banking and interact with peers and stakeholders globally," said Rahel Ahmed, Managing Director and CEO of Prime Bank Limited.

Now this partnership between SME Finance Forum and Prime Bank will create a facilitating business ecosystem for thousands of MSME businesses in the country.

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