Bangladesh signs $100mn loan deal with ADB to boost SME sector

The Asian Development Bank (ADB) is extending a loan of $100 million, equivalent to nearly Tk 12.17 billion, to develop and promote Bangladesh’s small and medium enterprises (SME) sector. The deal was signed on Thursday in Dhaka under the second phase of the 2nd Small and Medium Enterprise Development Project. Md Shahriar Kader Siddiky, secretary of the Economic Relations Division (ERD), signed the agreement on behalf of the interim government. Hoe Yun Jeong, ADB’s country director for Bangladesh, signed for the lender, according to a media statement issued by ERD. A separate project agreement was also signed between ADB and Bangladesh Bank. The central bank’s Executive Director SM Abdul Hakim signed on behalf of the regulator. The project will run...