SDF to launch $10mn MSME funding scheme in Bangladesh

The MSME funding scheme comes under the Economic Funding Window of SDF, which has earmarked an amount of $10million to be disbursed under the MSME funding scheme in Bangladesh

Story ---- SAARC Development Fund (SDF) is going to launch a $10million micro, small and medium enterprise (MSME) funding scheme in Bangladesh aimed at boosting job creation, raising income and increasing investments in human capital, according to a press release.

The MSME funding scheme comes under the Economic Funding Window of SDF, which has earmarked an amount of $10million to be disbursed under the MSME funding scheme in Bangladesh.

The MSME loan shall be extended to MSME-specialized banks in Bangladesh.

“MSMEs account for a significant share of employment and GDP in Bangladesh and as such it is important for SDF to launch its MSME funding scheme in Bangladesh.

The MSME funding scheme shall be used to fund export-oriented clusters in Bangladesh to promote economic integration and regional cooperation in the entire Saarc region,” said Dr Sunil Motiwal, CEO of SDF.

SDF was established by the heads of the eight Saarc Member States in April 2010 as an umbrella financial institution for Saarc projects and programs. 

The fund works for promoting the welfare of the people of the region, improving their quality of life and accelerating economic growth, social progress and poverty alleviation in the South Asia.

Dr Motiwal emphasized on the need to create an integrated and prosperous South Asia region through project funding and collaboration. The fund is working to promote regional cooperation and integration in the Saarc region. 

(Dhaka Tribune)