Dhaka Bank signs deal with SME Foundation

Dhaka Bank PLC has signed participation agreement with SME Foundation under the Food Value Chain Improvement Project (FVCIP) funded by JICA and the Revolving Fund through the Special SME Credit Wholesaling Program. Under these agreements, Dhaka Bank will provide financing support to CMSME Businesses across the country at concessional interest rates.

The FVCIP will provide financing to Cottage, Micro, Small and Medium Enterprises (CMSMEs), with preference given to Women Entrepreneurs, at an interest rate of 9 per cent, while the Special SME Credit Wholesaling Program will facilitate financing for Micro and Small Entrepreneurs in the Manufacturing and Service Sectors at an interest rate of 8 per cent.

The agreement signing ceremony was held recently at a hotel in Dhaka, where Anwar Hossain Chowdhury, Managing Director of SME Foundation, and A K M Shahnawaj, Additional Managing Director of Dhaka Bank, exchanged the agreements on behalf of their respective organisations in the presence of Khandakar Abdul Muktadir, Industries Minister, as the chief guest.

Among others, Md. Mokhtar Ahmed, Secretary, Ministry of Expatriates' Welfare and Overseas Employment; Abdun Naser Khan, Secretary, Ministry of Industries; Max Tunon, Country Director, International Labour Organization (ILO); and Md. Mahbubur Rahman Palash, EVP & Head of MSME & Emerging Business Division of Dhaka Bank; along with others attended the ceremony.