ADB, Bangladesh ink $100m deal to aid CMSMEs

The Asian Development Bank (ADB) and the government of Bangladesh on Thursday, October 9, signed a $100 million agreement to help cottage, micro, small, and medium-sized enterprises (CMSMEs) outside Dhaka and Chattogram metropolitan areas, gain access to medium and long-term credit. Md Shahriar Kader Siddiky, Secretary, Economic Relations Division (ERD), and Hoe Yun Jeong, Country Director, ADB, signed the agreements on behalf of Bangladesh and ADB, respectively, at a ceremony at the ERD office in Dhaka. "As Bangladesh strives to diversify and transition its economy, developing CMSMEs is a key to accelerating growth, and reducing poverty, income inequality, and regional disparity," said Country Director Hoe Yun Jeong. "This project will help achieve these goals by supporting the CMSMEs in rural...