A partnership has been established between Dhaka Bank PLC and SME Foundation to offer low-cost loans to Cottage, Micro, Small, and Medium-Sized Enterprise (CMSME) enterprises.
Under their revolving loan facility, SME Foundation will give Taka 450 crore to the bank from both their own resources and the Government’s stimulus package. The bank would then distribute the funds to the entrepreneurs at a 6 per cent discounted rate.
AKM Shahnawaj, acting managing director of Dhaka Bank PLC, and Salahuddin Mahmud, managing director (additional charge) of SME Foundation, signed the agreement on behalf of their organisations.
Also, Md Mahbubur Rahman Palash, head of MSME and Emerging Business Division of the bank, was present during the agreement signing ceremony.
Professor Md Masudur Rahman, chairman of the SME Foundation, presided over the agreement signing ceremony while Zakia Sultana, senior secretary, Ministry of Industries; Md Abdur Rahman Khan FCMA, secretary, Ministry of Finance; and high officials of different banks and NBFIs were also present in the signing ceremony.
