Bengal Commercial Bank has signed a participation agreement with SME Foundation to channel concessional financing to small and medium enterprises across Bangladesh, offering loans at an interest rate of 8 per cent, according to a press release issued on 28 April.
The agreement, signed recently at a hotel in Dhaka, aims to expand access to affordable credit for SMEs under a broader government-backed initiative, with Bengal Commercial Bank Managing Director Tarik Morshed and SME Foundation Managing Director Anwar Hossain Chowdhury signing on behalf of their respective organisations.
Minister for Industry, Commerce, Textiles and Jute Khandakar Abdul Muktadir attended the signing ceremony as chief guest, while Ministry of Industries Secretary and SME Foundation Chairperson Md Obaidur Rahman chaired the event.
Bangladesh Bank Deputy Governor Nurun Nahar and Women Entrepreneurs Association of Bangladesh President Nasrin Fatema Awal were present as special guests, alongside other officials and stakeholders.
Under the SME Foundation’s Revolving Fund Credit Wholesaling programme, a total of Tk300 crore will be disbursed through banks and financial institutions to support small businesses.
The initiative will provide loans ranging from Tk1 lakh to Tk25 lakh, targeting entrepreneurs across the country.
Priority access will be given to women entrepreneurs, as well as marginalised and underserved communities, in line with the programme’s objective of widening financial inclusion.
The partnership is expected to strengthen SME financing channels and support business expansion by reducing borrowing costs for smaller enterprises, the press release said.
