SME Foundation and United Finance launch cluster development initiative

In a joint effort to revitalise underdeveloped coastal industries, SME Foundation and United Finance PLC have launched a cluster development initiative, targeting key sectors such as dry fish, salt, snail, and shellfish.

These sectors hold significant promise for employment generation, rural livelihoods, and export potential, says a statement.

A recent stakeholder dialogue brought together over 20 entrepreneurs, producers, policymakers, and industry experts to identify challenges and strategic opportunities.

Discussions focused on critical gaps including access to finance, the need for infrastructure such as cold storage and drying units, skill development in hygiene and packaging, sustainable resource harvesting, and market linkage support.

This initiative is rooted in inclusive growth, aiming to uplift marginalised coastal communities through multi-stakeholder collaboration. Planned next steps include cluster mapping, piloting tailored financial and technical assistance models, and forming dedicated Cluster Facilitation Teams.

Anwar Hossain Chowdhury, Managing Director of SME Foundation, and Suman Chandra Saha, Deputy General Manager of Credit Facilitation and Financial Services under Project Management, attended the event.

United Finance PLC was represented by senior officials including Mohammed Ashfaqul Haque Chowdhury, Cluster Head 1; Sudip Saha, Head of SME and Women Entrepreneur Financing; and Rokan Uddin Muhammad Al-Mamun, Branch Manager of Cox's Bazar.