Dr. Sunil Motiwal, Chief Executive Officer, SAARC Development Fund (SDF) announces the launch of MSME Funding Scheme in Bangladesh.
Dhaka: SAARC Development Fund (SDF) has earmarked an amount of USD 10 million to be disbursed under the MSME funding scheme in Bangladesh, informs Dr. Sunil Motiwal, Chief Executive Officer (CEO), SDF.
SDF is launching its Micro, Small and Medium Enterprise (MSME) funding scheme in Bangladesh under the Economic Funding Window of SDF. The MSME loan shall be extended to MSME specialised banks in Bangladesh.
Dr. Motiwal said, "The MSME Program will help boost job creation, raise income and increase investments in human capital in Bangladesh."
"MSMEs account for a significant share of employment and GDP in Bangladesh making it important for SDF to launch its MSME funding scheme in Bangladesh," added he.
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.
The CEO emphasised on the need to create an integrated, poverty-free, and prosperous South Asia region through such project funding and collaboration.
SAARC Development Fund (SDF) was established by the Heads of the eight SAARC Member States in April 2010 as an umbrella financial institution for SAARC projects in the SAARC region.
The fund works for promoting the welfare of the people of SAARC region, improving their quality of life, and accelerating economic growth, social progress and poverty alleviation in South Asia.