ZCZC
BSS-28
SAARC-FUND-CREDIT
SDF to launch $10m MSME funding scheme in Bangladesh
DHAKA, Jan 9, 2019 (BSS)- SAARC Development Fund (SDF) is going to launch a
US$10 million Micro, Small and Medium Enterprise (MSME) funding scheme in
Bangladesh aiming at boosting job creation, raising income and increasing
investments in human capital.
The MSME funding scheme comes under the Economic Funding Window of SDF,
which has earmarked an amount of US$10 million to be disbursed under the MSME
funding scheme in Bangladesh. The MSME loan shall be extended to MSME
specialized banks in Bangladesh, said a media release received here today.
“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, chief
executive officer of SDF.
SDF is established by the heads of the eight SAARC Member States in April
2010 as an umbrella financial institution for SAARC projects and programme in
the SAARC region. 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, poverty-free and
prosperous South Asia region through project funding and collaboration. The
Fund is working to promote regional cooperation and integration in the SAARC
region.
BSS/PR/TAN/SSS/1805 hrs