Agreement signing ceremony in progress in the city Thursday. The SME Foundation Thursday penned an agreement with the country's largest multiproduct NBFI IDLC Finance Ltd, said a statement.
Under the agreement, the state run agency will provide Tk 30 million at a favorable interest rate to IDLC under its credit-wholesaling programme. IDLC will provide collateral free credit to small and medium entrepreneurs of Light Engineering cluster of DholaiKhal and its adjacent areas at a single digit interest rate of only 9.0 per cent.
Dr Engr Syed Md Ihsanul Karim, Managing Director of the foundation, and Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Ltd, penned the deal.
'We will continue to move forward and stimulate other business clusters with more such financing schemes', said Dr Engr Syed Md Ihsanul Karim. Selim R F Hussain emphasised on IDLC's focus towards increasing access to finance for the underserved.
The agreement signing ceremony was attended, among others, by Md Nazeem H Satter, DGM, SME Foundation, Indrajit Sur, Head of SME - Small Enterprise Financing, IDLC. Other high officials from IDLC Finance Ltd. and SME Foundation were also present.
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