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 yesterday.
"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 program in the SAARC region.
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