Trust Bank, SME Foundation to implement revolving credit fund

Trust Bank PLC has signed an agreement with SME Foundation to disburse revolving loans under the Credit Wholesale Scheme, aiming to boost access to financing for cottage, micro, small and medium enterprises (CMSMEs) across Bangladesh.

Hasna Hena Chowdhury, acting managing director and chief executive officer of Trust Bank PLC, and Anwar Hossain Chowdhury, managing director of SME Foundation, signed the agreement at InterContinental Dhaka recently, according to a press release.

Khandakar Abdul Muktadir, minister for commerce, industry, and textiles and jute, attended the signing ceremony as the chief guest. Under the scheme, loans ranging from Tk 1 lakh to Tk 25 lakh will be offered at a concessional interest rate of 8 percent, targeting grassroots entrepreneurs and underserved segments.

Md Obaidur Rahman, secretary of the Ministry of Industries and chairperson of SME Foundation, presided over the event.

Nurun Nahar, deputy governor of Bangladesh Bank, and Nasrin Fatema Awal, president of the Women Entrepreneur Association of Bangladesh, among others, were also present.