SME Foundation stresses easy loans for entrepreneurs
SME Foundation yesterday called for bringing quick solution to the problem faced by the entrepreneurs in accessing credit from the banking system.
The government agency promoting small and medium enterprises made the appeal at its ninth annual general meeting at The Daily Star Centre in the capital.
During the meeting presided over by its chairperson KM Habib Ullah, the board members instructed the foundation to expand its activities for the development of the SME sector.
SMEs occupy an important position in the national economy. They account for about 45 percent of manufacturing value addition, about 80 percent of industrial employment, about 90 percent of total industrial units and about 25 percent of the labour force.
Their total contribution to export earnings varies from 75 percent to 80 percent.
But despite huge development in the sector in the last five years, SMEs, particularly the small ones, face difficulties in getting loans from the banking sector.
The board of the foundation also approved the annual report and the audit report of 2013-14, the foundation said in a statement. SME Foundation Managing Director Syed Md Ihsanul Karim also spoke.
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